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

To: fatty who wrote (9491)	3/10/2003 8:42:04 AM
From: J. P.	Respond to of 306849

Fatty, it seems that housing (Especially in Boston, Cali, NY and other areas) is another game of musical chairs. If you had a chair before the prices rocketed up then you can take 100K+ profits and roll up. If not you either have to generate many times the cash the median household normally could or you are out. I think the game ends when the prices stop rising so fast because there are no longer profits to roll up and buy up and the supply of buyers for the higher end thus dries up and it works it's way down. I'll have to guess with falling wages the majority of buyers of 500K+ homes aren't using cash generated from a full time job but are using cash generated from the sale of the house they bought 3-10 years ago and rolled up. Maybe they say there no inflation, perhaps the Fed has been able to sweep all the inflation under one single carpet called residential real estate.

To: fatty who wrote (9491)	3/10/2003 8:08:08 PM
From: David Jones	Read Replies (1) \| Respond to of 306849

...a woman named Ethel Lawrence teamed up with three enterprising lawyers and the NAACP to file a lawsuit alleging that people of modest means were being shut out of places like Mount Laurel - that the town's nice homes and good schools were unavailable to people who couldn't pay the price of admission.... Rediculas!