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

To: GraceZ who wrote (8900)	2/14/2003 6:58:09 PM
From: Skeeter Bug	Read Replies (2) \| Respond to of 306849

Families don't have to have two incomes to own a house, families have two incomes and that pushes up the price of houses. thank for eloquently making my original point. :-) ps - i didn't mean to imply women didn't "work," just that many fewer got an actual paycheck like today. more money creates more demand creates more expensive homes... VOILA! avg household income is now composed of nearly two wage earners instead of nearly one and housing has become less affordable to a single wage earner. bring one of those $27k families to san diego and see how much of a $300k starter home they can afford. yes, diego is cheap compared to some places in california. i'm sure other areas are less expensive... and for good reason. i learned a long time ago that it isn't the home that is expensive... it is the land underneath it!

To: GraceZ who wrote (8900)	2/19/2003 9:34:07 AM
From: Tom M	Read Replies (1) \| Respond to of 306849

<<Collectively, they [families] have too much income, not too little.>> Ah the system can take care of that - that's what the stock market and inflation are for -g-. Designed to keep as many as possible as rats on the treadmill. Hell they even bumped the age of eligibility for Social Security up. Reminds me of the Barron's cover a few years back titled "Are You Rich Yet" telling people not to sell at what was the top of the stock market bubble because they'd need $2M to retire on and not the $1M that many had in paper thanks to the dot.coms etc. Think greed will make them make the same mistake and not sell the RE bubble? I'd say that's by design - we shall see. I try to keep one disposable property, convert to cash, wait & repeat (what a concept buy low & sell high!). I think I read here that there's quite a lag for properties to get to foreclosure auctions being that easy financing's keeping the market hot. Anyone have any good rules of thumb for the auction time frame? I went to one four years after the '87 crash and there were some great deals and the auctioneer couldn't get any bidders. That same time frame, 4 to 6 years post stock market crash, was also a great time to get competitive construction bids. regards, Tom