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 (28970)	4/4/2005 11:01:20 AM
From: Tradelite	Read Replies (2) of 306849

"We" certainly do know what happened in Japan and here in the U.S. <<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.....>> You're right, Grace. I've seen my house fall in value a couple of times while owning it. Still own it and still live in it. Couldn't care less what happens to its value as long as I need to live in it. Seen the same thing happen with my 15-year-old automobile. Price declined for years, to the point where I found it cost-effective to cancel the collision insurance. All of a sudden, I seem to own a "classic" automobile which would command more money in the open market than the amount estimated by my dealership's body shop to fix the ugly dent in the side of the car imposed by a crazy driver a week ago. Real estate is a long-term investment. Certain cars might qualify for that status, as well. I'm keeping the car and expecting to collect the insurance to get the dent fixed. <<gg>> (Also keeping my house for the time being.)

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