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

To: rolatzi who wrote (2705)	6/1/2002 7:14:58 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<He then pointed out that the surveyor is the canary in th coal mine, or as I put it, surveyors are leading indicators. We both concluded that this foretells the coming decline in housing.>> Maybe so. But maybe also it reflects nothing more than the fact that the refi boom is over. Every time a home is refinanced (and for the past few years that has happened more times than homes have been bought/sold)...a surveyor is called upon to either do a new survey, or (to save money for the homeowner) simply re-certify the old survey. If Boston is as short on available land for new construction as the Wash DC area is, then I suspect surveyors are short on work. (Watch out, West Virginia and all other wide-open rural areas....you might soon see an influx of surveyors in search of new territories! <gg>>) It would be interesting to compare the "busy-ness" level of appraisers right now, too. They also get terribly overloaded during refi booms, but things slow down when the booms end. I have a close friend in the appraisal business..if I have a chance to talk to him, I'll ask what the workload looks like. Thanks for bringing up the subject.