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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Rich1 who wrote (24600)	8/20/2001 1:02:54 AM
From: thestockrider	Read Replies (1) \| Respond to of 30051

I believe it's important to compare housing inventory levels to long-term averages, not the averages from the last three years. There's still much pentup demand for lower and mid-level housing in silicon valley. Until the rental housing market cracks, that demand won't go away. I suppose that's something to track: when rents for apartments and houses that substitute for lower and mid-level owned houses drop some percentage in a significant number of american cities, the housing recession cum reverse-wealth effect recession is on. Perhaps there's a reverse wealth effect for people who thought they owned $2M homes. -thestockrider