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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Hawkmoon who wrote (111036)3/17/2008 1:52:46 PM
From: Broken_ClockRead Replies (1) of 306849
 
Hawk

I think you are minimizing the following:

Just as greed and fear drove the bubble higher, fear and declining values will drive the market lower.

9,000,000 homes with negative equity at this point. This point being the highest inventory in the history of the US RE market. As the wave of foreclosures accelerates, that 9mm figure will expand drastically. The mean avg # of sales nationwide is around 4,000,000 homes per year. We could bottom with 3 years inventory on the market and a severe recession/depression to boot.

BTW, lenders are still doing anything they can to close loans. I know personally of a deal for a lot here in which the lender(WF) is loaning 80% on the lot and doing the 20% down payment via new equity line on the buyers condo. 100% + closing costs is alive and well.
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