Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (29739)	12/3/2000 2:33:10 PM
From: j g cordes	Respond to of 68326

Harry I believe you asked about housing peaks re the last market cycle.. ---------- Best of times, worst of times Slowing housing market benefits buyers, hurts sellers By Ken Cimino, CBS.MarketWatch.com Last Update: 4:46 PM ET Dec 1, 2000 NewsWatch Latest headlines REDLANDS, Calif. (CBS.MW) - A softening housing market is expected to follow on the heels of the slumping U.S. stock market, giving buyers a better chance to negotiate a discount -- especially with the onset of less-competitive winter months. "This is the first real break buyers have gotten in the last five years." Ilyce Glink, real estate author The winter season is typically a buyer's market, as the number of homes up for sale exceeds demand. Many houses take longer to sell, often resulting in better deals as owners desperate to unload their homes accept well below the property's listing price. So far, the U.S. real estate market seems to be slowing faster than usual and might produce better deals yet, experts say. That means buyers frustrated during the sellers' market of recent years might finally have the upper hand. There were 1.7 million homes for sale nationwide in October, nearly twice the total in January, when inventory fell to a more than 30-year low of 1 million units. That historic low immediately followed an almost 50 percent rise in the Nasdaq index in last year's fourth quarter. The meteoric rise in stock prices sent demand for homes soaring during a period of limited supply, which in turn drove up housing prices. Now that the Nasdaq has fallen 50 percent from its high, the real estate market is expected to slip as well. "This is the first real break buyers have gotten in the last five years," said Ilyce Glink, a real estate columnist and author of "100 Questions Home Buyers Should Ask." "This makes the next six weeks even more crucial for homebuyers", she said. "Also interest rates are real low, so this is a great time to buy." ------------