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: daffodil who wrote (25493)	11/29/2004 10:47:47 PM
From: David Jones	Read Replies (1) of 306849

>>>>>someone is causing approximately HALF of each new home to evaporate...<<<<<<< It's my thinking that a fair sized number are second homes for the purpose of investment or not needing the proceeds, simply kept with the intention to rent out. It's difficult to weed out this number without access to Data Quick or possible through N.A.R. I did find an article that mentions a study in 1999 claiming 13 percent of all homes sales were second home purchases but nothing up to date. I speculate the number holds true for today but cant be sure. enquirer.com On the premise the percentile number has held true sense 99. I'm thinking this may be a contributing factor for the soft rental market here in N Calif and elsewhere. And a segment of ownership that will crack when and if a correction occurs. After all those that bought a second home and kept the first can still take advantage of the 250k/500k rule three years after they leave if they occupied for the previous two years.

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