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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ild who wrote (6584)11/5/2002 2:05:37 PM
From: Elroy JetsonRead Replies (1) of 306849
 
Some home buyers may indeed find a yard and other uses for extra real estate to have a zero or negative value. But I don't believe this is reflective of most home buyers.

Advertising for real estate sales provides the largest source of revenue and profits for the Los Angeles Times. I think this fact explains the peculiar spin and perspective the Los Angeles Times and other newspapers place on real estate stories.

Of course a quaint lack of grounding in real estate economics may also contribute to breathless accounts which upon reflection don't make a great deal of sense.

But I think the essense of the actual situation is found in the following quote.

"We're seeing a lot of 'now-or-never' condo buying right now," said Chris Cagan, director of research and analytics at First American Real Estate Solutions. "Interest rates are down, and renters want to become homeowners. Condos are the way to get in."
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