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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (49695)3/7/2006 12:38:09 PM
From: John VosillaRead Replies (1) of 306849
 
"Imho a 20% decline in RE is a calamity mostly because people are so leveraged in RE."

But are most really that leverged? I think it is a small percentage. You got speculators tied with ARM's and IO and the younger first time buyer not going to survive but they had zero net worth four years ago anyway. Sort of like the temporary dotbomb millionaire of 1999? Then you got a ton of 60+ who could care less and have their homes paid off.. Biggest hurt will be felt from folks in their 30's and 40's and even some in their 50's who thought they had finally made it, were doing well before the bubble and now stretched themselves too far in excesses and could lose it all. That retrenchement could be huge in some markets..
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