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: AC Flyer who wrote (128)	7/23/2001 7:27:43 AM
From: AugustWest	of 306849

Great Lakes region. Actually on the shores of Lake Erie. We are mainly a manufacturing community of maybe 300K. Even as I see these reduced stickers , they continue to build $200K+ subdivision homes on lots of 50X70!!!!! I'm sure I'm overly pessimistic(because I'm pissed that the potato fiields and grape vineyards I use to pick in as a kid are now loaded with these cheap "slap em up as fast as you can", but I can honestly see a glut coming and these 200K homes worth perhaps less than 50% of their current values. How will that hurt the home builders in general? I suppose just by no interest in new homes. * on a side note, most of the houses being build here are by custiom builders. I swear I don't know where these people or more so where this money is coming from? How many of these people live beyond their means? I'd have to say 80% of them. Me, I have 3/4 acre and a humble 1300 sq.ft home(but a huge gardenand over 14 fruit trees not counting the row of blueberries and raspberries my grand dad planted some 20 years ago- yes I'm proud of it all:). When prices come back down we will buy 20 acres+ and build. Probably just rent this place out as it's been in the family since 62 and a lot of memories. I guess some things Mastercard can't buy<GGG>

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