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

To: GraceZ who wrote (28815)	3/26/2005 6:05:15 PM
From: shades	Read Replies (2) \| Respond to of 306849

"The great news for us was that our incomes rose so much during the period our house was priced below what we paid for it (ten years), that the mortgage payment shrank in significance as well as in real terms (we refinanced at a shorter term and lower rate)." I don't see this trend for people buying now, I don't see high pay jobs or income going up while people remain employed, I see people losing jobs or high pay go to low pay as we bleed to foreign competition and those few that do keep the high pay job and income rises doesn't stabilize foreclosures. In your nieghborhood of 150 houses where peoples income went up as their house value fell - how many lost thier job to india or china and either remained seriously underpaid or underemployed? If many had lost their job, do you think the bank repo's would have lots of forsale signs out in front of them?