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

To: JBTFD who wrote (16471)	1/30/2004 10:08:30 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

while the focus has been almost universally on a housing crash induced by a rate spike (which spike is universally expected by all conformist wall street economists, as well as all bears and all bulls--it is the most universally held opinion on Wall St other than that the USD must tank forever), another possibility is that rates stay the same or go down, but housing crashes anyway because income goes down. this is why it is important to follow income trends, imo. the Indian programmer who will do the American's $70,000/yr job for $8000 cannot afford a $300,000 house; neither can the American if his next job pays $30,000.