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: koan who wrote (265529)	8/1/2010 12:44:28 PM
From: Valuepro	Read Replies (1) of 306849

"People need a place to live. Our housing market is tight as a tick and about to explode way past old highs. This is due to people moving here looking for work and higher construction costs." Whoa, there, buddy! Construction costs have only a small part to play in housing costs. As you well know, value is in location. That is derived from land. It is land value and not the cost of the materials upon it that determines the larger part of value. You can't have rising real estate prices when land values are falling, even if your get your way in allowing some struggling home owners to refinance to 120 percent of questionable appraised values. Your scheme will not do any more than, perhaps, modestly slow the trend in falling land values in the broad market. Maybe your local market is an exception, but it is not what is happening nationally. VP in AZ

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