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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (28970)3/31/2005 4:19:43 PM
From: mishedloRead Replies (3) of 306849
 
Yes, we do. Houses fell seriously in price off their peak and people continued to live in their houses and pay down their mortgages. I think most here will be surprised at how many here will do the same thing when the price of their house declines.

I think there will be an enormous spike in foreclosures.
But spike from where to where? Even if the foreclosure rate triples or quadruples (not a bad bet) the vast majority of the people can and will live in their houses and pay down their mortgages.

But what about investment property?
People owning 2-3 or more houses, or worse yet condos (firsts down and last up - at least I think).

I am not sure if you are trying to make trivial the consequences of this bust or if you even think a big bust is coming. Perhaps you do, but think I am overstating the consequences.

Mish
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