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

To: JakeStraw who wrote (27992)	3/11/2005 9:10:01 AM
From: RealityNotFantasy	Read Replies (1) \| Respond to of 306849

This does not include New York or Washington, D.C. You wrote: "Then again, maybe some people shouldn't present their opinion(s) like they were statements of fact..." In My Humble Opinion (IMHO): I would re-think that statement. There were some things I said in my opinion. There were some things I said out of my personal experiences. There's a difference between the two. I think there's a misunderstanding here. I have never specifically attacked the market where you live (NY?)or that of Washington, D.C. for that matter. Perhaps, I too should clarify my opinions to center around Southern California and Minneapolis/St. Paul, Minnesota because I have lived in both metros. We can argue and bicker all we want but neither sides, bulls or bears can totally control and/or predict the outcome. Wouldn't it be better to work together to mitigate the risk factors? An example of what I mean by a risk factor, in the Minneapolis/St. Paul metro are people who have purchased homes who really can't afford to keep them. I personally know several of these people. Both families ended up walking away from their houses. That's because they were one income (and a part time minimum wage job at that) families. I have no idea how they became qualified to purchase homes? How would that affect the foreclosure rate in this area? How would that affect the house prices in this area? Obviously they weren't prepared but if they are financially prudent, they may be able to buy & keep a home down the road. Nonetheless, they are responsible for their own finances. I've come to the realization that its rather pointless to discuss whether there will be or will not a real estate crash or if there is a real estate bubble. Simply, no one can totally predict the outcome. Rather, it may be more productive to discuss how to mitigate risk factors with the example that I mentioned above. Again, when I discuss this, I am NOT including New York or Washington, D.C. I know the areas where I've lived better than these other areas. Once again, this is just my opinion. Just my two cents....