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

To: yard_man who wrote (1076)	11/28/2001 9:17:32 PM
From: bill	Read Replies (2) \| Respond to of 306849

Well, so much for my being convinced that the downturn in business would cause house prices to crash in Vancouver and Victoria. Vacancies are at something like .7%. A report in the paper today of a scam where someone rented a house, then put it up for rent themselves, rented it to scads of people. They've all turned up to arrange moving in. The three scammers have disappeared and the people who put up as much as 2400 hundred bucks each as a deposit and first month rent are out their money. Happens nearly every time there is a tight housing market. It may be that the major cities will escape the price drops that will affect the mill towns. Or, maybe, it's too early yet. Another article said the rumours of recession have got ahead of the fact and that many retailers are saying yes, I'm sure there is a recession but I'm doing okay so it must just be a fluke. Hard to know with all the layoffs. Maybe there's a kind of psychological momentum and people have to be out of work for a certain amuont of time before the effects start to really show. I gather from the articles that I'm not the only one scratching my head over the seemingly contradictory information.