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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ild who wrote (1263)12/30/2001 12:53:45 AM
From: GraceZRead Replies (1) of 306849
 
What's your opinion on RE prices?

That they may moderate ST.

Are we in RE bubble?

Generally no, but some areas like Northern California were definitely experiencing some silliness and will revert to the mean.

Are people overstretched?

Amazingly, no. Debt has a way of taking care of itself. The majority of the people I talk to started moderating their spending as the stock market cooled. The other thing that is occurring is that the Boomers are now inheriting their parents assets, I can't tell you how many people I know who have had their financial butts saved just this way.

The hottest real estate markets where most of the silliness occurred were in areas where people weren't using income to afford the houses. Obviously in San Francisco where only 7.3% of the houses are affordable to the median income, people were using other assets to buy the properties.
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