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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: tejek who wrote (304397)2/21/2011 10:56:46 AM
From: John VosillaRead Replies (2) of 306849
 
I would still expect most any area that shot up a lot during 2003-05 to have given most of it back in nominal terms by the time this is over.... Folks might not feel it as much there in price as Florida but the debt burden, exotic loans with little principle paydown the next 5-7 years and very high overall cost of ownership versus renting will hurt IMHO. Here in FL people walk away from $300-400k mortgages of 2005 and another family member with still good credit buys a smaller home perhaps not as nice today for $60-80k setting up a much stronger foundation for little stress and successful equity accumulation this next cycle..
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