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

To: David Jones who wrote (5620)	9/26/2002 8:23:36 PM
From: Lizzie Tudor	Read Replies (3) \| Respond to of 306849

Oh yes I only mean Silicon Valley. Just a natural projection of what the stock market has done is inevitable here, imo. If I seem a little perturbed at something... its the complete inability of RE agents around here to make a natural connection between the obviously overpriced housing mkt and the collapsing job market. From the same article... As I've mentioned before, a "buyer's market" is a strange thing because all the buyers have dried up! When the market is hot, buyers pile in and drive up prices even further. When the market is cooling, they disappear. "Curiouser and curiouser!" I'm going to let you all in on a little secret: no one rings a bell when the market bottoms. It's better to buy when the market is going down than when it's going up: less competition, less stress, more choice. Could you lose a few percentage points until a bottom is reached? Yes. But, why are you buying the house? Most people buy houses as a place to live. If you live in a house long enough, ten years ought to do it, you will come out ahead. Of course, you can wait until the market turns around and have the joy of participating in multiple offers. What a complete idiot. Houses here could get cut in half, literally unless we get some kind of capex pickup next year and it better be a doozy. San Mateo county experienced 300% and more appreciation in the 90s. This is going to get rolled back, plain and simple. A friend just moved to Santa Rosa and said things are great there... is that where you are? Seems like its all pricing, she says houses in the 300's are common there- nothing like that here of course. L