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

To: Jim McMannis who wrote (23331)	8/17/2004 2:32:22 AM
From: X Y Zebra	Respond to of 306849

well... most definitvely a grub

To: Jim McMannis who wrote (23331)	8/17/2004 2:32:25 AM
From: X Y Zebra	Respond to of 306849

over shot... [just in case]

To: Jim McMannis who wrote (23331)	8/17/2004 3:36:45 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

It's true that most Japanese have continued paying on their underwater mortgages - resulting in price declines of only 3.5% a year, every year for the last 12 years. When many people default on their mortgages and their homes are sold by the bank, the value of each home declines quickly. We could achieve the 50% real estate price declines which have taken place over 12 years in Japan in less than a couple of years. It will be the triumph of market efficiency.