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

To: Mike Johnston who wrote (36261)	7/26/2005 9:14:32 AM
From: Think4Yourself	Read Replies (2) \| Respond to of 306849

re: "I think the biggest restriction in Nevada and Arizona will be availability of water" I agree completely, and would add power could be a problem at times. That area uses hydropower extensively. They will build until water becomes a problem. After that they will be subject to the whims of nature, and a long drought will be a serious problem. As development continues to the north, where much of the water comes from, water will be siphoned off upstream. As that happens, It's going to get ugly. Fresh water and energy are going to rise and become key political issues going forward, and not just for the southwest. With over one billion new consumers worldwide trying to come online in the next decade, there won't be enough resources to go around.

To: Mike Johnston who wrote (36261)	7/26/2005 10:50:50 AM
From: John Vosilla	Respond to of 306849

"That is why prices will always be high in Palm Beach or Martha's Vineyard. But if demand was there what is there to prevent developers from putting up, let's say 1 million condo units in Miami ? Only time. I think the biggest restriction in Nevada and Arizona will be availability of water." I bet somehow the authorities will get the water there if 20M people live in SoCal even farther from the source. One of the real odd things I've noticed in South Florida is the premium price placed on these new overpriced condos with unlimited room for new supply by building up as you state compared to single family where there is no land left to expand in many areas. All are overvalued but the condo market is the one at risk of collapsing. Just got a call from one of my relatives who was vacationing out west and was in San Diego. She's a realtor down here in Fla and said the prices for these condos per foot are even higher in South Florida than San Diego.