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

To: Elroy Jetson who wrote (3472)	7/18/2002 7:02:23 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 306849

Elroy, RE:"The information I see in the MLS shows significantly increased inventories and much longer time on market prior to sale - just like 1989" Where are you? Is there normal seasonality? You say inventories building? Jim

To: Elroy Jetson who wrote (3472)	7/19/2002 3:10:51 AM
From: David Jones	Respond to of 306849

I'm no son of the LA Times. I find their editorial positions to be more liberal then my own. They are quoting Data Quick and the California Assn. of Realtors though. I read ahead and seen that your market is Beverly Hills. Wouldn't you expect in a recession for the high end homes to take it in the shorts? These multi million dollar homes have been floundering for well over a year. The needed and sought after entry and mid homes are in demand. You worked through the last recession you should of learned that high end homes are the canary. You mention that it's just like 89. Wrong, 89 was a punch in the face, this is a rash. Things fell apart so fast I thought someone dropped a bowling ball on my head. As I recall the high end here in N Calif feel off 23-28% while the mid to lows fell some 12% tops. And buildable land was dead, period. I haven't seen any fall in prices with the exception of last November when many were plain scared to buy. Now inventory is down and prices are back up from then. "Personally I'm kind of interested in what this years tax time will bring to real estate". How about a question or two. What's your zip codes or areas average priced home and house hold yearly income? Later I'll dig out my local numbers to compare. It might me interesting?