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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 (21305)	6/4/2004 2:30:58 AM
From: gpowell	Read Replies (1) \| Respond to of 306849

The only problem I see is that you refuse to believe that homes have appreciated through this downturn in the Bay Area economy. The majority of the people that were displaced never intended to stay in the area long-term, they were mostly young, and consequently never made much of an impact in the purchase market except through a spillover from the rental market. Meanwhile, the labor shortage pushed everyone's wages up and for the most part those wages have stayed up. Combine long-term residents with lot's of equity in their old homes trading up, new found income, home ownership participation rates at record levels, and record low interest rates and you can see why prices have continued to appreciate. The wealth engine in the Bay is not terminated anymore than it was over the past 60 years when one industry or another left the area.

To: Lizzie Tudor who wrote (21305)	6/4/2004 8:58:43 AM
From: Rutgers	Read Replies (1) \| Respond to of 306849

I know 20 people with houses they want to unload over about $1.25 million, show them the buyers. for my education, and perhaps others here, can you share a little more information regarding these 20 people with the homes that they want to sell * how many have actually put their homes on the mkt * how long have they been, or were, on the mkt * how many offers have they rec'd * what is the range on the offers they have rec'd to date