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: Live2Sail who wrote (173813)	12/27/2008 11:11:33 AM
From: TH	Read Replies (3) of 306849

L2S, I have no where near the data I have for Las Vegas, but from what I've found, I would say that this is not true. Pricing on the high end stuff is still coming down and IMO, that is going to continue for quite some time. Many think CA is always special, but if general forecasts for a steep recession are accurate, then CA will get hit even harder in the next 1-2 years. Here is a great blog I've been reading that details just about every reduction in SM. smdistress.blogspot.com There is also one for Manhattan Beach. Now there I might agree that the high end stuff is still doing very well. mbcon.blogspot.com The reductions in Vegas continue to amaze me. It has reached a point BELOW Patron's original projections per square foot to me about 2 years ago. Some of the choice units are cheap enough that I might consider buying one just for the hell of it. These are not my first choices, but the price reduction is really getting interesting. And I think it will continue for the supply in Vegas is still very high. $400k for a strip view in a good joint. realtor.com This is nuts. This unit was about 675k just 2 years ago. realtor.com I spoke with this builder before the units were even started. He told me to pound sand if I thought he would ever be selling for less than a million (my how things change in three years). realtor.com GT TH

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