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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Ramsey Su who wrote (64946)6/30/2006 10:51:25 AM
From: Wyätt Gwyön  Read Replies (4) of 110194
 
How many months would it take for these vacant properties to become "must sells"?

ouch. on the bright side, i've got to think some of the inventory increases we are seeing are just people who realize the bubble is ending and finally recognize they should monetize this windfall.

many people in SoCal and other bubblezones are sitting on hundreds of thousands of paper profits, the first 500 thousand of which the govt doesn't even tax for couples meeting certain conditions.

all that money is sure hard to come by if you try to save it up the old-fashioned way.

last year i tried to convince my sister to sell her overvalued house in LA. they supposedly could sell at a big profit. i sent them Excel spreadsheets showing how much they could save each month. they listened politely but did not agree because of their fear that they'd never be able to buy back into the cesspool known as Los Angeles, because every day more and more people come to bask in the wonderful smog and traffic.

now she finally believes me but it is probably too late to get an extreme bubble price. but they might put their place on the market anyway, just to see if someone will buy it.

i wonder how much of the inventory explosion is these types of sellers.
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