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: John Vosilla who wrote (86535)	8/22/2007 1:10:44 PM
From: Lizzie Tudor	Read Replies (1) of 306849

Yeah just to be clear, I think you and I agree that housing is in a funk, but if we don't see a widespread crash at both high and low end in all the expensive locales like California and NY and coastal areas, then the recession we do have is going to be a lot like 2001 and maybe you guys get a depression in Florida but not anywhere else. With all due respect I doubt most 20 or 30 something workers in SV can really come up with the required 20% down payment or afford the monthly payments on $800k amortizing mortgages to keep the party going. How many really have $200k down and make $300k a year with excellent credit? Yes I know. But here is the thing. Housing prices peaked here in Fall 05 as far as the speculative frenzy goes. That downdraft has been going on for a year and nothing really happened.

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