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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (149085)	2/5/2002 8:17:41 PM
From: orkrious	Read Replies (1) of 436258

in a push comes to shove situation in which RE values collapse and delinquencies soar Heinz, what do you think the odds are of RE values really taking a hit? Here in Detroit, there have been pockets of weakness, but the low end and very high end areas have stayed strong. When I got engaged a year ago (we were married in August), we put my wife's house on the market for $420,000. We thought we'd move into my $200,000 condo and then wait for the prices to weaken in the area in which we wanted to live. We just "dumped" my wife's house for $353,000; her area is "cold" and I was tired of holding on to it. I didn't think things would improve. Still, most of the city's real estate market is hanging in there fairly well. The area my wife wants to live is the higher end, but the cost is 50% higher than anywhere else because the neighborhoods are so "nice." I've told my wife I think things will come down there. She doesn't believe me since they have barely "softened" there during the past 18 months. I'm curious as to your thoughts. TIA ork

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