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: Perspective who wrote (112757)	3/25/2008 6:19:46 PM
From: SockpuppetDoug	Read Replies (2) of 306849

I'm renting also. REOs are not too bad so I think it's going to take a while. I operate in the construction industry and with 50x100 lots close-in selling for ~90k it makes no sense to buy a 1920s Sears home for 450k. I can build a much nicer home (not crappy developer quality): insulated, with Marvin or Anderson wood windows that actually work, decent hardwood floors and a contemporary layout, plywood cabinets and nice finish detailing for about $175/sf. That's about 15% cheaper than the 1950s technology homes in my neighborhood are going for. Until that discrepancy is resolved, I'm not buying anything. If it doesn't change I'll just build my own house.

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