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

To: John Chen who wrote (17334)	2/14/2004 11:23:00 PM
From: Ali Chen	Read Replies (2) \| Respond to of 306849

"even in a HOT market, people do lose their home" HOT? I stopped following the market after re-financing for 4.85%/15yr, down from 6.75/30. My impression was that the local market was rather in stagnation, and no way can be qualified as "HOT". National and state mortgage rates are steady to my taste, with fluctuations around 4.5-5.5% (although I would agree that the recent 3-month trend looks a bit down). But last year appraisal was down, homes are longer on the market, neighboring Toll Brothers development does not look as moving fast, so I don't expect the new appraisal to go up (although who knows). "I do have a very reliable signal that the real-estate has TOPPED. How bad this time around, well, that depend what kind of trick Alan Greenspan can pull out, or what kind of financial gimmick the country/treasaury department can invent. So far, it has been very capable of creating a asset bubble." That sounds strange - I was under impression that government tries to stabilize economics, not to shake the boat...