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: Juster who wrote (473)	8/29/2001 12:04:57 AM
From: GraceZ	Read Replies (1) of 306849

In 1989 my house was worth $280,000 and didn't get back to that value till 1998. I had a similar situation with a house. I wound up owning it a good six years longer than I'd planned on and sold it for the same amount I bought it for 11 years earlier. I think this is the exact situation that the people who are talking "doom and gloom" are trying to keep others (and themselves) from getting into. I know it was pretty painful for me to have to hold onto something that was slowly losing value while the houses in the area I wanted to move to seemed to be getting further away in price. This is what happens when you buy real estate at a cycle high, you get left holding the bag. If you plan on living there the rest of your life, who cares, but people's situations change. Death and divorce are kinda hard to plan for.

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