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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: regli who wrote (34765)	8/3/2005 12:42:21 PM
From: valueminded	Read Replies (1) \| Respond to of 116555

Regli: I guess I dont buy the fact that it is national in scope. I would imagine that the coastal areas will see a far greater percentage decline then areas like atlanta, nashville, etc. For example, in Nashville, you can buy a 3500 square foot new home (4 bedroom, 4 bath)in a desirable part of town with a 30 minute commute to downtown for less then 500k. I dont think the salary spread in the coastal areas versus Nashville is enough to justify the difference in housing prices. I think the rise in interest rates will be one of the triggering events, I just dont see the case for broad collapse. It is interesting, to note that there have been several articles in the local business section about all cash buys in this area from equity obtained in the sale of prior homes in California. PS - As someone who has built (general contracted) my last 5 houses, I think I have a decent perspective on real estate in my local area.