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: Doughboy who wrote (16077)	1/16/2004 8:41:43 AM
From: Tradelite	Read Replies (2) of 306849

Doughboy, I have no doubt that this market will turn around at some point and home prices will decline, either somewhat or maybe even a lot under extreme circumstances. From what I can see, prices are already softening and supply increasing in the upper price ranges. However, your area and mine are likely to keep on experiencing some degree of shortage in homes in the lower-to-middle price ranges. Good houses priced for the $300-700K buyers were hot sellers even 6 years ago. They're like gold today. I did read about the apartment-to-condo conversion you mentioned as happening in DC, but I wouldn't overestimate its potential to depress prices of condos. Traffic is getting so bad and gas prices have gotten so high that you might just see many more suburban SUV drivers migrating to in-town living, particularly older people----we'll see plenty of them retiring soon and I can only wonder how many of them will stick around and keep paying high property taxes for big houses and lots they no longer need. (I'm one of those looking to flee this area eventually, and never thought I'd say that.)

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