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: mishedlo who wrote (43638)	10/28/2005 2:08:07 AM
From: David Jones	Read Replies (1) of 306849

>>>>I do not care what the population growth is in California. Prices simply can not forever rise above people's ability to afford them<<<<< It about roofs. Not if one can afford one, because miraculously most everyone here can afford a roof over their head. Someone can and is purchasing roofs for the population. So they end up with a crappy return on their investment and their renters reap the windfall. Oh well. I agree there's going to be a shake out and prices should come down. But no one has adequately addressed the numbers of speculators/investors skewing the numbers nor how such a shake out will play out. When I see truly massive condo villages going up and California government harping on the need for affordable housing well I just smile. Because I'm not sure we haven't addressed that problem. As I pointed out here on the thread a few thousand posts ago Section 8's renting large homes with pools is not the norm.

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