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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: J. P. who wrote (2536)5/6/2002 5:00:56 PM
From: tonyRead Replies (1) of 306849
 
Loss of jobs which is continuing.
Lack of buyer for entry level houses.
10% of people decide to sell to take advantage of bubble and buy overseas, creating inventory.
We had this bubble in 1989 also, it took atleast 1996 for the prices to come back to 1989. We can say that prices are top for the next ten years. Silli valley has lost lots of jobs and I read freeways are fun to drive again there. This recession is "new kind of recession" like we had "new economy' and will not end till 2003 atleast. IMHO.
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