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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: AC Flyer who wrote (128)	7/23/2001 7:27:43 AM
From: AugustWest	Respond to of 306849

Great Lakes region. Actually on the shores of Lake Erie. We are mainly a manufacturing community of maybe 300K. Even as I see these reduced stickers , they continue to build $200K+ subdivision homes on lots of 50X70!!!!! I'm sure I'm overly pessimistic(because I'm pissed that the potato fiields and grape vineyards I use to pick in as a kid are now loaded with these cheap "slap em up as fast as you can", but I can honestly see a glut coming and these 200K homes worth perhaps less than 50% of their current values. How will that hurt the home builders in general? I suppose just by no interest in new homes. * on a side note, most of the houses being build here are by custiom builders. I swear I don't know where these people or more so where this money is coming from? How many of these people live beyond their means? I'd have to say 80% of them. Me, I have 3/4 acre and a humble 1300 sq.ft home(but a huge gardenand over 14 fruit trees not counting the row of blueberries and raspberries my grand dad planted some 20 years ago- yes I'm proud of it all:). When prices come back down we will buy 20 acres+ and build. Probably just rent this place out as it's been in the family since 62 and a lot of memories. I guess some things Mastercard can't buy<GGG>

To: AC Flyer who wrote (128)	7/26/2001 11:04:55 AM
From: Jim Willie CB	Respond to of 306849

a note on MetroWest Boston former Digital colleague has worked at EMC for years now she confirms of many layoffs at EMC last month I dont have numbers but many came from less essential marketing groups she lost some friends to lunch with I figure if Mighty EMC is laying off, then job shedding is spreading EMC is located in Hopkinton they are responsible for horrendous traffic jams last month Corning subsidiary NetOptix shut down operations they were located in Natick talked to different commercial RE buddy this week he says commercial side has softened more in recent weeks he has some vacancies in his commercial buildings he owns 4-5 buildings but his impression is that residential demand is reasonably firm my take is that the Financial Services sector is at risk now Fidelity was thinking about layoffs instead they eliminated the 2000 bonuses Fleet has laid some off if the recession hits the financial sector, then real estate will surely be affected in greater Boston it is a green economy, ranked 47th last I checked in mfg fwiw, Jim