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: Elroy Jetson who wrote (25890)	12/12/2004 7:50:48 PM
From: Mike Johnston	Read Replies (2) of 306849

7 fold increase in population in Los Angeles in 8 years. 20 fold increase in real estate valuation in San Diego within 10 years. This is incredible. LOL. Until now i have been hoping that the real estate bubble would burst. But now after reading those statistics i think it would be kind of fun to watch something like this unfold in NY metro area. Maybe the population of New York City would increase from 7 to 15 million. Maybe the price of a co-op would triple from here. 2 million realtors, 2 million mortgage brokers, 2 million speculators. 200 year mortgages. All economic activity except sales and mortgage business would cease. Even pizza makers would quit making pizza and "sit" on some property "making" $2000 /day without getting out of bed. But then, where would the newly rich population spend all their real estate profits ? They couldn't even buy a pizza. Unless somebody would start selling it for $300 a pie.

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