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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (1184)	12/3/2000 11:53:40 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 74559

Stock Operator: I think the real estate prices in Silicon Valley and Manhattan will collapse, but only at the higher end. Like, homes that were going for 15-20 million in March this year will probably sell for 6 or 7 million two years from now. But I can't see how the median home prices (500k-600k range in Silicon Valley) can come down big time. It is still a question of supply and demand, and as long as there are jobs, houses in the median price range should do OK, suffering maybe a 10%-15% decline at the most. So, just a stock-market decline might not bring down the median home prices by much. But if there is a more-than-mild recession, then it's a different story altogether.