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: tdl4138 who wrote (926)	10/22/2001 12:26:02 PM
From: Dave	Read Replies (2) of 306849

I've been watching homes and condos in the Miami Beach area for the last two years. This is the first time I've seen condos advertised at below developer's cost, I'm also seeing apartment complexes advertising that they have reduced their rents! This weekend I saw four Open Houses on the waterfront islands, and some had 'Price Reduced' signs on them, it has been rare to even see one Open House. It wouldn't surprise me if most of the units in the new super luxury high rises currently being built, are owned by flippers. Yes, I think the bloom is off the rose! I'm waiting patiently for a fire-sale on a waterfront home. I don't know how low they will go, but after a several hundred percent rise in the last few years, I think a pull-back is most definitely warranted! Of course, all the realtors will tell you that now is great time to buy, and the prices are low relative to other places. Yeah, and internet stocks are going back to their highs. JMHO

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