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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (57683)7/14/2006 4:19:05 PM
From: J. P.Read Replies (1) of 306849
 
Thanks all for your replies.

We're in the Chicago area, not much price decline here to speak of, but those are advertised prices, have to check what the actual sales numbers are. We are not panicked to buy, I was just curious what other thought, pretty much mirrors my expectations.

If I had an adjustable rate mortgage, and drove a big SUV many miles to work each day (as many here do) I would be experiencing some panick right now as interest rates and gas prices ratchet up. Right now I take the train downtown and have a fixed rate so we're OK.

I think I'll wait about 2-3 years (if I can keep the wife at bay) and watch the wheels go round and round. This housing rally went on about 3 years longer than I'd of thunk, and usually the trough mirrors the peak.
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