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: Incitatus who wrote (60004)	8/15/2006 5:12:56 PM
From: Tradelite	Read Replies (1) of 306849

Oh, OK, sorry I misread the following as supporting evidence for what you were saying: __________ <<Funny thing. My brother has an interest only mortgage and thinks everything is fine. He reasons that, although Michigan home prices are declining, his neighborhood will be spared. And although his neighborhood is declining, it's temporary because of certain ongoing construction and their home prices will rise again starting in 1-1.5 years. My father, who lives a half hour away, believes that his house won't fall in value because it's near a lake. (That's right, not on a lake, just near a lake.) Even though the next town over had a Ford plant shut down, and even though he follows the papers and knows how things are crashing Michigan-wide and nationally.>> ____________________ Given that you now say you live in New England, did you notice in the latest housing report from NAR that prices have still been going up in the Northeast, and the alleged reason is a favorable job climate?

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