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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.93

-1.8%

Nov 14 4:00 PM EST

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To: Ilaine who wrote (29703)	2/21/2008 1:15:22 PM
From: Lazarus_Long	Read Replies (1) of 217798

ml-implode.com Interesting site I happened on. :-) This area sounds reasonably similar. There was a time when the common belief was you couldn't lose money on RE - in spite of previous evidence that you could. In the area where I am. at least as far as I know, there are no foreclosure sales - although I suspect that is overstatement; probably some of the "normal sales" appearing really aren't. OTOH, there are areas close to the Central Valley around the Bat Area that have little but foreclosure sales. The people that bought there generally work in Silicon Gulch and would rather live in it and avoid the horrible commute, but couldn't afford to. And can't afford wat they did buy, it turns out. Many of these people are 'recent immigrants'. Overall, probably not that different. Disaster, tempered but a lot of people hanging on by their teeth. And some, such as I and some others who own outright and the banks can't budge. One of the graphs I looked at showed a high turnover rate in the DC area and I thought at least a good percentage of those would be normal sales involving realtors. You saying things are so bad this isn't true?

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