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

To: Lizzie Tudor who wrote (21264)	6/3/2004 4:17:05 PM
From: Elroy Jetson	Respond to of 306849

Everything is relative. Million dollar homes in Santa Monica (and much of Los Angeles) are in low-end of the price scale. Since Congress eliminated interest deductions on mortgages over $1 million, that pretty much set the demarcation line between the high-end and low-end market. * Appreciation of homes $2 million and up (high-end depends on stock market returns and business profits. Appreciation in Los Angeles has been very weak. * Appreciation of homes under $1 million (low-end) depends on mortgage rates and employment. Appreciation in Los Angeles has been strong. * Homes priced between $1 million and $2 million share characteristics of both high and low-end markets. Appreciation here has been mixed.