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

To: Tradelite who wrote (1630)	2/19/2002 2:47:25 PM
From: SouthFloridaGuy	Respond to of 306849

Tradelite, housing prices have risen way more than incomes. Obviously the interest rate factor has to do a lot with it, but so does the ever decreasing lending standards. The real estate brokers will tell new buyers that all that counts is your monthly mortgage payment. Bullsh!t. I can tell you for a fact that most everybody I have seen to on the East Coast and spoken to on the West Coast (Central Valley) has told me that a large chunk of those buying homes right now are young couples in their late 20's and early 30's with little or no money down. Savvier individuals know the dangers of that game. Guess that's why bankruptcies are increasing so fast and thanks to Alan Greenspan's continuance of the credit binge in 2001, they'll increase faster yet.