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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (6470)11/1/2002 12:30:25 PM
From: GraceZRead Replies (1) of 306849
 
Well you touched on a fairly good point.

In my own area, as people were fleeing the city for a myriad of reasons, the surrounding suburbs were experiencing above market rates of price increase while the prices in the city were in free fall. Take the metro area on a whole and it looks like a modest increase in home prices, yet you could find people whose houses had become worthless and those whose houses had doubled in price in the same time frame.

If the East Coast goes underwater making those properties worthless anywhere on higher ground becomes more dear.
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