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: The Duke of URL© who wrote (3701)	7/30/2002 3:14:48 PM
From: GraceZ	Read Replies (1) of 306849

Please tell me where you get the 7% number. What is the real cost of money? Inquiring minds want to know. BTW I agree with you the change in the tax treatment of cap gains has little to do with the ridiculous rise in certain real estate markets. It started with people having too much money and too few houses in the areas where they wanted to live. Remember all those optionaires back in 1999-2000? Not all of them lost it all, some of them cashed out and put it in a house. I know more than one stock speculator turned real estate speculator. Couple that with the boomers parents starting to pass away with their children inheriting all of their parents savings. Real estate goes up because it is the only thing going up. People invest in what is going up. They buy today what will be more expensive tomorrow. Its as much psychology as it is cheap money. Frankly I don't see mortgage money as that cheap or cheaper than market. How can you tell what the market rate for money is with the Fed interference? If you look at the spread between a floating rate mortgage and fixed, the fixed looks expensive to me.

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