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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Michael Sphar who wrote (6285)10/27/2002 11:31:34 AM
From: SouthFloridaGuyRead Replies (2) of 306849
 
People have the capacity to ride through 2.5 year down phases, heck they could probably ride through 10 year down phases, and they would be smart to do so, here in Silicon Valley. I don't know about your city.

How positively presumptious. Did you do a demographic study? I have plenty of family in California and they'll give you a completely opposite story.

What if you had lost your job between 1989 and 1992 and you couldn't make the payments? Maybe that wouldn't happen to you Mr. Trump, but the many who are buying houses right now are new homebuyers with newborns...with little or nothing in the way of savings, 5% downpayments, and not quite up the career totem pole.

Basically you're trying to create a one size fits all box for everyone, when real-estate and for that matter any investment is based on individual circumstances. You do people a disservice when you don't qualify your responses.

Furthermore, the analogy between San Francisco, New York, and Japan does have a lot of accuracy.

I am assuming you went to college and took Econ 101. Perhaps you should take a look at what happens in a market when you have an inelastic supply curve. Price jumps tend to be large on both the upside and the downside. Doesn't feel good when you're the bagholder.

Unfortunately not everybody is as fortunate to have such wonderful business acumen as yourself. Some of our jobs actually eb and flow with the economy and hence we have to think about "no brainer" investments.
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