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 (18606)	3/15/2004 3:00:34 PM
From: Elroy Jetson	Read Replies (1) of 306849

The top of the California real estate market in 1989 was marked by extremely low (almost non-existant) inventory of homes for sale with frantic over-bidding. As home prices declined in ensuing years, the inventory of homes for sale increased. When home prices are rising very few want to part with their appreciating asset. This is especially true in California with the Prop 13 freeze on your existing home. When any home owner looks into selling their home and buying a new one they find they can only afford a smaller, less desirable home. Home owners only become motivated to sell once prices are falling. They become desperate to save what equity remains.

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