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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Drygulch Dan who wrote (92662)10/23/2007 7:08:01 AM
From: Dan3Read Replies (1) of 306849
 
Re: I think an upscale property market will be less affected by REO resale activity than houses of lower end markets.

The flip side is that entry level homes are either bought, or bought then rented out, to persons who "consume" them as necessities. High end homes are fashion statements / luxury goods. If it becomes less fashionable to have a giant house, the bottom of the market can drop out even if economic times are good. If the wealthy start to think that big homes are dumb investments, they can almost whimsically destroy the market for them.
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