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

To: David Jones who wrote (25791)	12/10/2004 1:59:48 AM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

<I suspect a large driver is expectation of appreciation but some just need housing. And if the numbers makes sense for them why should they not purchase if it's their desire to have greater control over their domicile than if they were tenants. If we see an X correction so what? As long as they can make the payments and cover their living costs most will be fine.> True many are purchasing based on expected appreciation. Bet no one in today's bubble markets entered that into the equation back in 1999. Same with folks in most of the midwest today. Now if they can easily afford payments in a way overpriced markets based on a fixed rate 15 year mortgage and they expect to live in it for over a decade it should work out even with little down. Somehow i doubt many in San Diego are doing that these days.