The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: LTK007 who wrote (60)	7/4/2001 8:53:11 AM
From: HairBall	Read Replies (2) of 306849

LTK007: I would think as the cycle goes so does all real estate to some extent. I was personally involved in several different states in the eighties I know first hand that the building activity peaked in a rolling manner across the county. I have not looked at all the states per the link I posted earlier. It seemed to me that the real estate slow down began in the energy producing states like Texas, Oklahoma and Colorado in 1983. New Jersey peaked in 1986 and California peaked in 1989. A dramatic drop off in building activity does correlate with price declines. recenter.tamu.edu The property in New Jersey's was being sought after to develop single-family homes. The property belonged to a family member, but I was the family representative selling it. We got a great offer in late 86. The family member that owned the land rejected the offer believing a better offer would come. (A little greedy...<g>) As the building activity began to fall off dramatically, the amount of the offers plummeted and dried up fairly quickly The family member realized the mistake and that the offer I suggested was the best offer to be seen for a few years. I stepped away from the effort to sell the property and a few years later the property was sold for one third of the offer I recommended. So you never know…<g> I think it is fair to say some locations (at least at times) don't turn down during the nine-year down half cycle, but tend to go sideways depending on location and demand. The property I was trying to sell in New Jersey was to be used for very expensive homes with each residence to be built on several acres. The property was filled with wild life including deer (it was deer leased for years) and had a natural trout stream flowing through it. Regards, LG

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