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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (237698)2/9/2010 9:35:40 PM
From: John VosillaRead Replies (1) of 306849
 
'Unless they continue to do this RE will crash, it's still way overpriced. How long can they do it?'

Where is it still overpriced in our state except single family in some exclusive areas along the coast? I would tend to agree with you on the gateway cities. Many areas there just seem way overpriced today and unaffordable. Something has to give and my two cents is they correct further when/if long term rates rise a few percent. Catch 22 if you are waiting in those places cause your monthly payment might not be lower at all. Best to be where it has already crashed and burned a while back and we can put the bubble behind us<g>. I don't think for a moment this will crack the economy. It didn't as many of those same late stage places like coastal CA and the big cities of the NE were still dropping in 1992-95.
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