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

To: TARADO96 who wrote (24306)	10/6/2004 1:40:51 PM
From: Proud Deplorable	Respond to of 306849

"American West Homes is actually still increasing their prices with some waiting lists." goes to show you...a sucker born every minute. People are in denial right now. It's over. The psychology of the market is now damaged and spreading. Those listening to the industry spokespeople who are doing their hype spin deserve to lose their shirts in the coming crash. ANYONE knows that if you want accurate unbiased information on any subject that you don't listen to either opposing stakeholder. Not that CNBC is independant but just the fact that a crash is now subject for debate will send an important message to consumers, namely to get out now, if they own investment property. In the case of Las Vegas investors (gamblers) it means you just crapped out. YOU HAVE TO KNOW WHEN TO HOLD EM AND KNOW WHEN TO FOLD EM "You got to know when to hold ’em, know when to fold ’em, Know when to walk away and know when to run. You never count your money when you’re sittin’ at the table. There’ll be time enough for countin’ when the dealin’s done. Now ev’ry gambler knows that the secret to survivin’ Is knowin’ what to throw away and knowing what to keep. ’cause ev’ry hand’s a winner and ev’ry hand’s a loser, And the best that you can hope for is to die in your sleep."

To: TARADO96 who wrote (24306)	10/6/2004 5:56:23 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

<<Listen, it is true that the Vegas market has cool off some and that the number of listings now equals 7 months of supply, but it is really not that bad. It is more a return to normal selling patterns, instead of getting multiple offers in days.>> Agreed. I think a BIG part of Pulte's problem had to do with their pricing, which was in the the stratosphere. I think a lot of supply will come off the market in short order (ie, listings will be pulled for existing homes). Prices may even decline a bit over the next year or two. But migration in remains very strong and the economy has not fundamentally weakened there (at least not yet).