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

To: Bill/WA who wrote (14188)	10/7/2003 9:53:04 AM
From: Tradelite	Read Replies (3) \| Respond to of 306849

Fair enough, Bill. My comment, though, was prompted by your statement that people were "smart to hold off until the Florida land bust was complete." My guess is they weren't smart with their timing; they were lucky. How does one ever know where the bottom of such things really is? Some people will postpone a purchase until the price has already run away from them. This certainly happened to some prospective homebuyers in the past few years alone. In my area, plenty of people also made this mistake in the early-to-mid 1990s. They were so used to seeing real estate values fall or prices be wildly negotiable, that they failed to notice the market was reversing to the upside. If they bought at that time, they grudgingly paid more than they expected to and probably imagined themselves as victims. Today, they are no doubt feeling pretty smart. They weren't really that smart; just lucky they bought before things got even more expensive. I hope I can be forgiven for taking a dim view of "waiting for the bottom" on this particular type of purchase. It's ingrained! :)