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

To: maceng2 who wrote (7285)	12/12/2002 7:30:51 AM
From: Micawber	Respond to of 306849

Penthouse Prices Drop, but Hardly to the Basement By RALPH GARDNER Jr. "Today, a $10 million purchase represents a much larger proportion of an individual's net worth," said Kathy Sloane, a broker at Brown Harris Stevens. nytimes.com

To: maceng2 who wrote (7285)	12/12/2002 11:35:29 AM
From: Moominoid	Respond to of 306849

Trouble is rent money is money down the tubes for sure, while owning real estate (your own home) is one of the few ways normal people can increase their net worth. Not true from an economic perspective IMO. Either you pay rent or pay interest on the mortgage or lose investment return on the equity in the house. All the same opportunity cost..... Of course for many people who don't have the discipline to save (most people) being forced to pay off a mortgage is a good thing.... Moomin