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: mishedlo who wrote (58995)	8/3/2006 1:19:47 PM
From: John Vosilla	Read Replies (1) of 306849

He is in one of the most overbuilt and speculative markets in the country so doubt you can extrapolate Port St Lucie for the rest of the country. I live just 75 miles south of him and just go my house under contract at a high price after a six month wait in an area with no speculators or new home construction as competition. I bet much of the country lies somewhere between those two extremes but it will only get worse the next 12-18 months most everywhere. The little guy tied to the ponzi scheme gets hurt now that shareholder value has dropped 50% and Bernake can't do much to help them here. Only keeping loose and liberal lending standards with toxic option ARM's and SMART loans at the forefront lends serious support to values. Without that you'd have a quick collapse in home values in all bubble markets. Most folks I talk to in FL that are long time savy RE investors here don't seem to get the current situation either so how can the new age moguls of the last few years or those making a living in the trades or professions get it? Talk about demographic trends and boomer cashing in their chips in FL seems to be the trump card folks hanging on to. Of course every bubble market is 'special' so that is the reason to support high costs of living in 'paradise'

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