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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Dave who wrote (160521)10/27/2008 2:25:25 PM
From: J. P.Read Replies (2) of 306849
 
Disagree. I think Real Estate comes down another 20% at least. My gauge is affordability and real incomes. The simplest gauge is when a month's mortgage payment equals 1 week's pay, then we are priced correctly.

Right now I'm probably in the top 1% of earners, but by my standards of "affordability" I can only live in the most modest of areas, where the average income is about 1/2 or less what my income is.

That's always been my gauge, even 5 years ago when things started getting nutty.
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