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

To: ild who wrote (11472)	7/4/2003 3:26:03 PM
From: Elroy Jetson	Read Replies (3) \| Respond to of 306849

don't you think that even minor correction in RE prices may cause sharp increase in defaults Grace lives in a very different market from Los Angeles. I have an Aunt and Uncle who live in Vermont. While property prices have increased somewhat, they have not seen the increases that Southern California has seen. Likewise they did not experience the 50% decline in property values that Southern California did post-1989. Real Estate in Southern California, and certain other markets, is highly leveraged especially in comparison with income. A loss of jobs will have a big impact here. Many studies have shown that most Americans live only two paychecks away from being homeless. It seems inconceivable but its true.