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

To: JakeStraw who wrote (417)	8/28/2001 2:54:51 PM
From: marginmike	Read Replies (1) \| Respond to of 306849

NYC or the serounding area? then you should have a thicker skin. Real Estate is Toast, those who want to accept it will be much better off. I was making the same statements in early 2000 as NYCboy and had the same responces. The amount of wealth has decreased 30-40%, how is this not going to effect RE values? There has never been wealth lost in the same magnitude since the crash in 29'. People are living on FUMES, I really hope I am wrong, but I know I am not. I was looking for Naz 1800 in may 2000 everyone said I was NUTS. I even thought I was NUTS. Turned out I wasnt so NUTS. I am now looking for 8-10% unemployment within 2-3 years. Lets see how crazy I realy am.