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

To: Dale Baker who wrote (35631)7/19/2005 11:04:14 AM
From: epicureRead Replies (1) | Respond to of 306849
 
What worries me is the number of people speculating in RE with strange loan instruments. We know some folks with very little experience investing who have purchased an investment town home in another state. Their loan instrument is interest only, and they really don't have the financial cushion to sustain them if their property should go vacant. In a down turn I think they would be forced to sell, and they'd probably lose money. They only bought recently, unfortunately, so their price will probably be close to a high.



To: Dale Baker who wrote (35631)7/19/2005 11:08:38 AM
From: John VosillaRead Replies (1) | Respond to of 306849
 
One interesting twist this time is this new ownership society and overpriced housing market has sucked in the recent pool of immigrants in the frothiest of markets such as NYC and LA into getting way over their heads in debt. My European immigrant relatives came here mostly in the 1940's and 1950's, settled in the biggest cities and moved forward with no almost no debt.


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