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: marginmike who wrote (6282)	10/27/2002 12:10:10 AM
From: Michael Sphar	Read Replies (1) of 306849

MM - You are making the assumption that I give a crap about housing in NYC.<g> Perhaps you missed my losing 73% of my equity in my current house between 1989 and 1992 or thereabouts post? A 20 - 40% correction in residential real estate here in Silicon Valley would be a minor speed bump. With 6% money pretty readily available and no obvious end to that easing in sight, 2.5 years of a current economic slowdown starting to turn, and definitely no end to the immigration prospects, all facts about as obvious as the anger-or-resentment-in-your-post, I'd say the opinions expressed here are not the retarded ones. Nothing goes up forever, I agree. I could have bought the same house that I bought in 1989 three years later and saved $80K, big deal. But housing is a 20 year event in my experience and unlike equities has a useful purpose for other than making money, though it does that nicely around here. People have the capacity to ride through 2.5 year down phases, heck they could probably ride through 10 year down phases, and they would be smart to do so, here in Silicon Valley. I don't know about your city.

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