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

To: JakeStraw who wrote (395)	8/28/2001 1:59:46 PM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 306849

Yes, I am sure Jersey Real Estate will hold up great - especially in areas closest to Lucent. Real Estate pricing trends have historically been 1-3 years behind the regional industry they follow. Given that 2000 was the best year for bonuses in Investment Banking Industry, I suspect we are in a March of 2000 situation for Real Estate as we speak. The housing stocks, S&L's, and Fannie Mae charts all point towards my scenario. It will be a cold winter in Westchester when there are little or no bonuses to speak of. I sure don't expect one, but I have constricted my lifestyle in accordance unlike my idiotic peers.

To: JakeStraw who wrote (395)	8/28/2001 7:30:21 PM
From: jt101	Respond to of 306849

JakeStraw, Based on my limited knowledge, I tend to agree with you. A few of my friends are looking for townhouses in the range 250K - 400K in and around Stamford, CT. They are in the market the last 3-4 months, so far there are no signs of prices coming down. Two of them closed the deals, but at the list price. The prices are up 10-15% y/y as per the real estate agent. (It may be that, properties are on sale for a long time, but I have no idea on that...) But as some others on this thread pointed out, I agree 1) There is a lag time and in a few months/quarters the property prices might come down, but not by much IMO. 2) Real estate is local in nature, so what is true in Fairfield county in CT, may not be true in other counties.