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

To: pass pass who wrote (10611)	5/9/2003 7:48:43 AM
From: Wyätt Gwyön	Respond to of 306849

The worst housing market correction in the Bay Area is 20% most and the next wave is always higher than the previous one. The land doesn't grow, number of people does. it is incorrect to assume that an increase in the number of people will always lead to higher prices, even for a limited land supply. Marc Faber in his Gloom Boom Doom report summarized the price history of land in Chicago and showed there were multidecade periods where land did not appreciate or depreciated severely, even as the population and real income grew tremendously.

To: pass pass who wrote (10611)	5/9/2003 1:11:32 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 306849

well you may be correct (you sound like a lot of real estate people around here), however, I am the owner of two houses bought at the peak of the bubble, I did a lot of looking before I bought, and my feeling is that these two houses would have EASILY fetched over 1 million in 2000 (probably more like 1.2).... mlslistings.com mlslistings.com