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: Lizzie Tudor who wrote (49514)	3/6/2006 10:36:04 AM
From: Tradelite	Read Replies (1) of 306849

<<There were millions of buyers of certain types of real estate in the 70s (I'm thinking condo conversions) who NEVER recouped their money or if they did it took 20 years.>> It sure didn't take that long in the DC area. I sold some of those condo conversions in the '70s, and sold them at a profit and got the clients into something else during '80s. The condos they originally bought only cost around $30-40K. Don't know whether all of them still hold the '80s properties ($100K and up), but if they do, they are sitting pretty right now at values of approx $400K and up.

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