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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: neolib who wrote (127794)6/7/2008 2:10:53 PM
From: Lizzie TudorRead Replies (1) of 306849
 
there have been declines in all but the really best zipcodes (like Palo Alto, no declines at all). But even then it is relative. The last house I helped somebody buy was in December 2006- she paid $455 per sq ft for this place in a desirable part of San Jose. Within 6 mos houses like that were selling for 900K vs the 810K she paid. Now, they have fallen back but the median is still $485/sq ft for that zipcode now. The decline of 1.9% is year over year with last year being a strong year here. My guess is even Palo Alto has declines off the absolute peak soon. Even so, I can't think of too many better places to put declining dollars than RE here- you have to buy something vs watch your money dwindle away. I'm a little more comfortable with RE vs oil contracts or gold right now, which are also inflation hedges, since RE has already crashed.

Of course for those that think the dollar is going to rebound RE is probably not the place to be.
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