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

To: fatty who wrote (5780)	10/2/2002 4:00:13 PM
From: marginmike	Respond to of 306849

500k Wont get you a small one bedroom in NY, or a shck in scarsdale.

To: fatty who wrote (5780)	10/2/2002 4:25:05 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

fatty....for some reason, your post reminded me of a couple I sold home to just about 3 years ago....came to Wash DC area from Scarsdale, NY....husband an architect with major Manhattan firm which designs big stuff like train stations, public buildings, and the like. Wife an interior designer with big-name upscale furniture firm. They spent weeks trying out the lower-priced market they were sure they would find in our area....$300-400K....As I knew in the beginning, this wouldn't suit their tastes, but god knows, they tried to like it. Eventually bought in mid-500K range....and house is now worth about 700-800K range. For some reason, I don't think their "qualifications" would be matched by someone suddenly coming here from India or suddenly graduating from college. They had education, experience, and a track record, backed up by cash in the bank from previous wise investments. This type of background isn't easily matched by new arrivals or new graduates. If you were hiring, would you take someone just off the boat from India or a recent college grad if you needed some real work to get done and some real company profits to be made? You say people are "easily replaced"--I say it's not that easy.

To: fatty who wrote (5780)	10/2/2002 4:26:59 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE:"And they are easily replaced by: 1) imports from India 2) hard working and ambitous fresh grads" I remember when IBM had to trim. They didn't let only the low paid people go, they let the high paid, dead wood go. Those with high salaries and closer to retirement. Not good for the higher end homes. As I speak, the higher end has gone cold...and it's working it's way down. Jim