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Strategies & Market Trends : SiliconInvestor All Stars Forum
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To: John Vosilla who wrote (1438)10/5/2007 1:47:05 PM
From: SouthFloridaGuyRead Replies (2) of 1718
 
Long Island housing update:

We're pretty much back to 2004 if you haggle. Problem is 2004 was a bubble.

Next 12 months should be nasty as inventories are very high for this time of the year. It's kind of like winter 2005 where inventories didn't decline. That's when you got the beginning of price breaks in the following months through fall of 2006 - albeit from insane levels.

In fall of 2006, inventories declined smartly due to low rates and healthy job market - thus price breaks were not great in early 2007 - especially as lending standards were still weak.

2008 should be nasty as the forced selling begins.
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