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

To: ggamer who wrote (4787)	8/28/2002 3:48:18 PM
From: fatty	Respond to of 306849

>Tell me, if prices in BOS were to go down 40% wouldn't you be a buyer? In Boston, even at 40% discount, it only offsets the gains from the past 2 years. It's still hard to think that one should shell out $180k to buy a 1000 sq ft condo in Quincy (10 miles south) or $250k for a similar unit in Somerville (5 miles north). Of course, not everything is that ridiculous. In traditional upscale suburbs like Belmont, Newton, Wellesley, a 40% drop will send prices back 3 or 4 years. In this case, I'd definitely be a buyer

To: ggamer who wrote (4787)	8/28/2002 3:49:29 PM
From: John Chen	Respond to of 306849

ggamer,re:"the whole country...deep trouble". Not really. If you are the 'pro', you can grab more 'high-price-RE' with 'depressed-price'. Actually, it's setup that way so the ones who don't need a POS will take it over at POS-price and sell it later. This happens again and again. It's a well design scheme with full government blessing and support.

To: ggamer who wrote (4787)	8/28/2002 4:34:16 PM
From: larry	Read Replies (1) \| Respond to of 306849

ggamer, I also know lots of people here who are willing to buy more with cash in the future. This is expected after the historical bull market run in the US at the end of 90s that made the streets full on multimillionaires. I am also not saying that the average house prices will be down by 70%. I said it really depends on the regional factor. But, we know that housing price can be down by that much and stay at that level for a long period of time (Japan). And we also witnessed a 50% hair cut to the average housing price in Hongkong in the last 3-4 years. I believe that the most spectacular bubbles always end up in the most spectacular fashion. Besides the US stock market, what is the 2rd biggest bubble in the whole human history? The current US real estate market, by a mile. And if the price here is Boston area drops by 40%, I might consider buying a 2rd house and it really depends on my finanial situation and whether my wife and I are conformtable in taking a second loan...there are just lots of variables out there. And you have to consider it case by case. larry