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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ChanceIs who wrote (180931)1/31/2009 3:40:32 PM
From: PoetRead Replies (3) of 306849
 
Great piece by RS.

Credit may be damaged, but homeowners can rebuild it. And by renting something they can afford, instead of the McMansion they cannot, homeowners are most likely to have some money left over each month that they can save toward a down payment on a house they can eventually afford.

Any thoughts by the thread as to what's going to happen to the hundreds of thousands of enormous homes complete with commercial kitchens, oversized jacuzzis and wine cellars that have been built in the last 10-15 years?

Seems to me that there'll become symbols of the excess of the age. Not to mention too expensive to heat. Who would buy them?
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