Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: David Jones who wrote (3581)	7/25/2002 7:48:20 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

Doesn't the collapse wipe-out ...just about every body when you get right down to it? That's exactly what's at stake. Real estate prices increased for the first couple of years after 1929 but finally fell about 70%. The effects on the economy were limited though as only 36% of families owned their own homes. In addition, most were mortgage-free as the longest mortgages were only five year. Today home-ownership is 75% rather than 36%, and home equity is collectively less than 55%. What was an incidental problem in 1932, is today a problem that will make Fannie Mae famous for hundreds of years to come.