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

To: GraceZ who wrote (6891)	11/17/2002 4:43:50 PM
From: Michael Sphar	Read Replies (1) \| Respond to of 306849

Hi Grace, Go easy what that "common sense" medication! Pretty heady stuff for this neighborhood. Let's see, 55 - 65 yearolds have been paying on their mortgages for 20 or 30 years already if they enough common sense back in the 70s and 80s to see what inflation back then was doing to their home purchasing dollars. Flip a few trade-up moves along the way, spin some off for a few boat or plane "toys", refi a couple times and put a kid or two through college on a home equity second, not a bad life. Broke/destitute/bankrupt hardly. These "boomers" will be ready to sell off and put their residual into their vacation/retirement home if they had the common sense to put that second piece of property into their life plan along the way and who cares if they have to take a 10 or 20% cut from some imaginary value figure off the peak of somebody's interpretation of a market top. With 20 million additional residents due to arrive over the first two decades of this millennium here on the left coast, rest assured there will be someone standing in line there waiting to buy. But whoever said common sense had to be "common"?