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

To: SouthFloridaGuy who wrote (6275)	10/26/2002 10:14:36 PM
From: Michael Sphar	Read Replies (1) \| Respond to of 306849

This same house sold for less than $8K in 1957 when it was built. Connect the dots. Unheralded century too. So be it. It hasn't been a total bed of roses since I first joined the Silicon Valley work force June 2, 1975. We managed something like 6 or 7 full blown business cycles in the past 27 years for the semiconductor industry. Sometimes things were tough like right now. But one thing you can count on, Calif residential real estate has an upward bias. That's a problem but not my problem. When housing should be going down, an accommodating lending industry is blunting the downside impact by lowering interest rates to levels unseen in my adult life. I've refi'ed a couple of times on different properties and am looking to do it again if it returns one more time to sub 6% numbers. I'm sure I'll have company. When I was a kid, NY had the most expensive real estate. Things have shifted West since then. With a billion or so Chinese quite a number of whom might be desiring a footprint in America along another billion or so Indians, let alone all of Central America, its not hard to see that housing in this state will have trouble collapsing.