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

To: GraceZ who wrote (1270)	12/31/2001 9:14:18 AM
From: Robert Douglas	Read Replies (1) \| Respond to of 306849

From a Merrill Lynch report: The number of existing homes for sale increased 6.7% and represents a 4.8 months’ supply. The median price of a new home rose 1.3% to $147,300 and is up 5.6% from a year ago. New home prices, in contrast to existing home prices, are weakening as they fell 9.8% in November October and have dropped 11.0% during the past year. This is where you would expect the declines to begin.

To: GraceZ who wrote (1270)	12/31/2001 11:14:02 AM
From: MSI	Read Replies (1) \| Respond to of 306849

I have properties in California, and even there with Prop 13 my assessments have STILL doubled in 3 years, with fees, bonds, special districts, etc. I hope there will be a backlash eventually. And on new construction it's getting to the point where gov't fees alone are a major factor, adding $30,000, which is then used simply to grow an already bloated county bureacracy. What does a bloated bureacracy think it's primary mission is? To create more fees! We need another Prop 13-type referendum in all 50 states. It won't happen with politicians, since they have universally proven they don't answer to the citizens. It will have to be citizens themselves, either carrying torches to the statehouse demanding recall of 90% of elected officious officials, or by referendum. We'll see which happens first.