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: Micawber who wrote (58946)	8/3/2006 12:25:12 PM
From: patron_anejo_por_favor	Read Replies (1) of 306849

That all makes sense, and it's consistent with prior market tops. Volume (of sales) precedes price, sellers pull homes off the market rather than reduce their prices to realistic levels. I can imagine some of the discussions between sellers and realtors could get pretty heated about pricing at this stage of the game..... >>There are markets where houses under $500,000 will be scarfed up pretty quickly while the $2 million-plus condos languish for takers. Realtor Alex Shay in Miami says that homes and condominiums "that are priced below a million dollars are selling well, and that is a good sign, because it demonstrates the continued demand for property in Miami."<< Of course this begs the question of what kind of incomes are being generated in Miami to allow people to "afford" million dollar homes and condos in the numbers that have been built or put on the market. Still seems like there's a lot of room to "exhale" there.....

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