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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (337411)	5/13/2007 10:45:54 AM
From: tejek	Read Replies (1) of 1576894

Lre: Doug Brunner, a real-estate agent at Downing-Frye Realty Inc. in Bonita Springs, says: ``Two years ago, it was common to see sales contracts written at 90 percent of the original list price. Now it is common to see listings reduced by anywhere from 20 percent to 33 percent before an offer is made.'' Amazingly, it was much worse when I bought in FL 15 years ago. I bought at the absolute bottom of that bear market. I think we have another 3-5 years of things getting worse. People will panic. If the national economy does not go into recession, I suspect your bear market in housing will be on the lower end of the 3-5 year period. What surprised me is that they are still building houses in FLA markets. That seems pretty stupid. Builders should hold off for a year and let in migration reduce some of the inventory. On the flip side (no pun) I read that the Seattle market is still appreciating. Yup.....it won't quit.....same with Portland, Salt Lake and some other medium size markets. I was sure the Seattle market was cooling off this winter but its picked up again in the last couple of months even with the availability of more inventory.

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