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: GraceZ who wrote (27082)	2/10/2005 9:32:10 PM
From: Wyätt Gwyön	Read Replies (1) of 306849

I predict Chris will never be able to afford to buy a house of equal value to the one he sold in Southern CA again. why do that? it could turn out he is able to afford it for any number of reasons. the most likely one, of course, is that some sanity is restored to the SCA real estate market. there is too much unpredictability in markets. you might as well say Chris could never afford to buy a beachfront property in Phuket--certainly more expensive property than 20 miles inland in LA. but now that Thai beaches got wiped out by a once-in-a-lifetime tsunami, maybe people don't want to pay $5 million to have a front-row seat to the next one. so maybe he can afford it. i don't think Hell-A real estate will do to well in an era of expensive ground transportation. all it takes is one well placed bomb in Ras Tanura and oil goes to $150. that bomb alone could be enough to kill the Southern California economy and make LA very affordable on the way to ridiculously cheap. instead of being covered with floating carcasses, i imagine it will be strewn with bankruptcy notices.

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