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: John Vosilla who wrote (39356)	8/27/2005 4:26:51 PM
From: tsigprofit	Read Replies (2) of 306849

10-20 years ago you weren't trying to buy homes with huge college loans, and super-inflated RE prices though either. What is it now, only about 15% of people in California could afford to buy a median home, with a conventional mortgage now?? Very different that 15,20, or 30 years ago. The people that made out like bandits got in maybe in the mid-1970s - or early 1980s into bubble markets like California - just dumb luck based on when they were born - and rode the bubble wave. Now, those bubble prices have priced out most new entrants into the game, that's why you see them scrambling to desperately buy with zero down mortgages. They could never save 20% of the inflated prices now. A crash - or decline - will actually help that group - so maybe that's what needs to happen now. >> 10-20 years ago you really needed to save money to buy things, especially if you were young and had no assets or credit or job history.

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