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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: SouthFloridaGuy who wrote (471)8/28/2001 11:38:36 PM
From: JusterRead Replies (2) of 306849
 
NewYorkCityBoy,

Sorry, I guess it did sound like I was bragging. It
was the doom and gloom that I was reacting to. My own
example of a 16 year return equaling the bond rate in
a good real estate area of San Diego gives me the opinion
that real estate overall except for a personal residence is not a great investment.
My comment about paying off the house was just a little "wisdom" for those that may be in the position
to work at it. In 1989 my house was worth $280,000 and didn't get back to that value till 1998. Now I consider that a crash. The world didn't end and most people cut back , hung on, and didn't have to sell. Some even rented out their homes and went and lived in cheaper apts. A few
ended up walking away and the banks ended up eating it.
But in the long run values returned to that bond rate.

Justerx
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