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: Les H who wrote (84186)	8/9/2007 2:59:27 PM
From: Les H	Read Replies (2) of 306849

Hong Kong, China: Would you foresee a more serious 1997-alike financial crisis in Asia and the US? Why or why not? If yes, when? Steven Pearlstein: This is going to unwind differently than Asia, for a whole variety of reasons: it starts in the US, the world and the global markets have changed in very fundamental ways since then, and the macroeconomic imabalances are now lmuch larger. My guess is that we'll be in the throws of things by Christmas if not before. Austin, Tex.: I work in commercial real estate and we have seen a huge increase in interest rates with commercial mortgages recently. Is this a direct or indirect result of the residential mortgage crunch or can it be attributed to other factors? Thank you! Steven Pearlstein: You betcha. And wait until that results in a collapse of the commercial real estate bubble. That will be very, very messy. Washington, D.C.: given the state of the credit bubble collapse, is this a really stupid time to buy a home? If we are planning to stay in the house for more then 10 plus years, then are we safe to buy a home right now? Steven Pearlstein: The price of houses will continue to decline. But the cost of a mortgage will increase over the next year. It's hard to know, without having a lot more information, which factor is greater at this point. But if you have good credit and income, I might be inclined to wait for a bit more correction in real estate prices. We haven't seen the bottom by any means. washingtonpost.com Profiting from the meltdown forbes.com

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