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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Ahda who wrote (2546)	5/8/2002 5:06:04 PM
From: David Jones	Read Replies (3) of 306849

Darleen personally I think this whole recession is a healthy thing in regards to rents/housing. One can't miss the number of For Rent signs out of late. As a landlord I may be of a different bread than the norm. I didn't push my rents to the max. It's been my philosophy that a tenant is more a partner not a customer. There health is my health. A lost months rent can some times represent a years profit on one unit. Turn over is a bad thing. Getting to the point of your post I agree, unemployment obviously is also a bad thing and effects housing prices. Reading in the news were supposed to be some where in the 6% range and going to 6.5% early fall. I don't buy these numbers on face. There are many part time workers that are not even counted. But regardless, to my thinking these are not high numbers. I understand it depends on where you stand on the mountain. To the unemployed in their particular field things can or are "not to trivialize" feel bleak. I've been out of work in my life and wondered if I can make it through the next month much less the year. But I found work and didn't have to abandon my home and I'm no one special. As to inner city redevelopment I'm all for it but the truth of it. Most wish to have a suburb life style. I read just this morning of another local city here in N Calif has a citizen sponsored ballot measure to limit the number or percentage of growth. To my thinking just more pressure to push population further from the job market. Hold or raise current prices closer in and put more traffic on the roads. And not to forget expensive transportation systems needed to support such a development atmosphere. Inner city development is really over looked as a solution. For instance for all of the N. Calif bay area. Oakland a forgotten and looked down on city by the uninformed had home prices rise at a higher percentile than 90% of the entire area and still those prices were comparatively low. Inner city development is a real answer to affordable housing and housing in general but California state law mandates each city to have their own affordable housing. And yet as I mentioned citizen ballot measures are circumventing these mandates and I fear the courts at some point will intervene. Personally I feel they should. Sense I'm a strong advocate for property rights and support a mixed use philosophy of development. I'm a bit long winded today.-/

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