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: organicgerry who wrote (5824)	10/3/2002 11:37:55 AM
From: JRI	Read Replies (2) of 306849

lefty- I know it has been booming there...but I suppose part of my logic is.....if you are living in Boston, and your goal in life is to retire in Florida...and your portfolio has dropped from 1.2m to 700k (say you've got some other money coming in....pension, SSI)... You can still retire in Naples-Sarasota...but you may have just gone from a 400k house to a 250k...but you are still going... The Euro thing is interesting.....Germans usually hold a lot less of their retirement in stocks, so stock market hit not as bad...Maybe somewhat 9/11 related? Euro is also doing better against dollar (vs. couple years ago)..so not all negative for Europeans... Given Naples-Sarasota economy is, for the most part, not based on high-wage (tech, manufacturing) jobs, I'd think it could also hold up better (than bubble real estate areas...SF/Boston/NYC...so reliant of tech/inv. banking, etc. When you say (selling 10-20% under list)...was it already listed w/big profit increase (over last couple years?).

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