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: Tradelite who wrote (6901)	11/18/2002 1:13:11 AM
From: GraceZ	Read Replies (2) of 306849

Real estate also hasn't yet demonstrated (to me, at least) the ability to go to zero, while we've all seen many stocks do so, easily and fast. Good grief, only because you either don't look for the examples or you don't understand them. One's investment in real estate can easily go to zero in a declining market when the real estate is bought using leverage otherwise you would never have sellers coming to closings with their check books to pay off the portion of the loan which isn't covered by the sale proceeds. Also, I don't know how you can say the 17,000 bricked up empty row houses in Baltimore City have any economic value to their owners (now the tax payers) considering that the houses can't produce an income sufficient to pay the taxes and now have delinquent taxes in excess of their potential sales price. They represent a negative value to the city right now. Last time I had a stock go to zero (actually they never seem to go completely to zero but .0006 or something like that) that was pretty much the end of it. I didn't continue to pay expenses or taxes on the worthless certs.

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