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

To: the_wheel who wrote (7161)	12/5/2002 4:01:39 PM
From: MSI	Read Replies (1) \| Respond to of 306849

Depends on the kind of property. The lower end will hold, IMO. FWIW, I've just gotten offers this past week on two low-end homes at 97% of the asking price and will probably sell. These are 200% higher than when I bought them 3 years ago. A surprise for one of my homes was a buyer who expects to get $1200/mo. for what I'm currently renting out for $900. I was told "Section 8" housing, where the government subsidizes rents for low-income and indigent. A bit disconcerting considering so many hard-working people live in worse homes and take no subsidies, in fact pay the highest proportion of their income in taxes, in the form of payroll tax. However, the high-end property I'll be selling soon I expect to be affected by current events, as well as the overall inflation picture, and declining economy for the next three years. I'm personally not confident in the Bush economy after reviewing previous Reagan & Bush economies, and expect severe damage next year, so I'm not in a panic, but will sell even at a 20% discount w/in 6 months.