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

To: SouthFloridaGuy who wrote (23237)	8/15/2004 9:55:26 PM
From: Proud Deplorable	Respond to of 306849

This one in Brooklyn is only 166,500, but it looks much nicer......bring your own windows mlslirealtor.com or buy this one with bars on the windows for a measly 295,000 mlslirealtor.com or this freshly painted gem for 319,000 mlslirealtor.com or this gourmet chefs special with 3 stoves and 3 fridges and no neighbors to bother you on your own spacious beautifully landscaped lot.....call now, this won't last. mlslirealtor.com or this modern state ot the art, well wired for all your gadgets, home with 6, yes 6 kitchens. If you don't like the smell of what you tired to cook for tea then you can just try again another 5 times. Only 75,000.00 (per kitchen) mlslirealtor.com Love pink? This used to belong to Mary Kay and its going for a song mlslirealtor.com and here you can really rise above you rneighbors in this half a million dollar penthouse in the sky, well maybe 2 feet off the ground ;-) We're movin on up! mlslirealtor.com Anyway who needs terrorists when you have homes like these that would only improve if they were attacked LOL

To: SouthFloridaGuy who wrote (23237)	8/15/2004 10:11:04 PM
From: TobagoJack	Respond to of 306849

Hey LongIslandGuy, A long time. The house you referenced is a fixer-upper bargain, at 30-year nothing-down 6% mortgage (USD 1522/mth) plus tax (90/mth). If the owner owns outright his second hand car, and only needs to take care of insurance / gas /maintenance (USD 350/mth), and eats the basics, say 3 McDonalds meals per day (USD 360), with Kentucky Fried Chicken for the weekends, and skips health care (USD 450), has no girlfriend/wife/kids/dog (USD 1,500 in addition to what the wife would earn), he would need an income of around USD 40,000 per year to make do, with no active savings built up, but with plenty of home equity to draw down when he wants to retire. ... and if he does get married and have a kid, he can make ends meet by extracting USD 2,000 per month from annual refinancing, assuming Greensputin keeps thumb on printing press button. Everything will work out just fine. BTW, did I forget to mention that what cannot be will not be? and real estate will most definitely crash and burn, and break some records as regard to ferocity of drop and viciousness of decline, and no authority will be able to hold it up, and if they try, worse will happen. The house in question? I figure it will eventually go for USD 150k, if that high. Trigger to collapse: jobs, income, interest rate, taxes, expenses, and attractiveness of competing investments, to name a few, or simply demographic slam, or simper still, USD 80/barrel oil. For folks who must absolute buy their own home now, I recommend buying two ocean view homes in choice locales, with nothing down and fixed rate mortgage, and be ready to unload one of two at profit, and be ready to walk away from the other if necessary. Chugs, Jay