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

To: Tommaso who wrote (18856)	3/23/2004 1:47:15 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Yeah, I saw that story in the Wash Post quite a while back, about people camping out to grab million-dollar houses. Crazy. But we've been hearing just a little too much about what bad shape the consumers and homebuyers are in, regarding debt loads, and a little too much pessimism about how it's all going to implode soon in the housing market. Saw something a while back noting that many people who fall into the heavy-debt and bankruptcy category aren't homeowners at all. They're low-income folks and more likely to be renters or of no-fixed-address anyway. I've believed for some time that this is the reason the job situation isn't so hot but housing still is. Jobless workers and real estate owners appear to be mutually exclusive categories. Wouldn't want to be owning shares in any apartment REITS right now, but notice they're still holding up OK.