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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Think4Yourself who wrote (58727)8/1/2006 5:30:36 PM
From: J. P.Read Replies (2) of 306849
 
I'm thinking a couple of years to bottom out, then a few more years until everybody really really hates real estate and regards it as dead money.

I'm wondering how everybody is going to buy 400K starter homes here in Chicago when they are making 60K/year, and they have no "fast equity" to flip up. Right now, you have immigrants moving in to these homes with their entire extended families in order to make the mortgage payment.

I have no idea how cops and teachers and the like afford 500-600K starter homes in San Diego, how do they come up with the dough? (edit: idea, 100 year mortgages!) Prices eventually have to come down enough for average working people to buy a house on their salary.
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