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

To: SouthFloridaGuy who wrote (37956)	8/15/2005 1:23:20 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

well if you are talking RENTALS, then northern CA is as low as its been in my lifetime and I have been here for 18 years (I mean availability and deals, not price because of course prices were lower 10 rs ago). Rentals everywhere are practically free, are they not? The NoCal area has always had a tight supply for rental properties because the foreign workers come in to Silicon Valley and they need housing. Every other time, recession or no, the scarcity of rentals that are really local to SV- this is San Jose and Santa Clara plus peninsula has caused rentals to be in tight supply. This time, for the first time we have all the bonuses like free months rent and those guys standing on corners waving those signs. Its very unusual. Also, you can rent here for about the cost of property taxes on a house bought in the last year or two. What does this mean as to the long term viability of all these overleveraged people that bought thinking they could handle the payments with a renter?

To: SouthFloridaGuy who wrote (37956)	8/15/2005 1:29:55 PM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

Sounds like recent comps would be $500k for that Vegas house. When you say put a lid on certain markets are inventory levels up to at least 6+ months now? So far Boston is there but is any other bubble market high yet? South Florida still a very tight single family market but high end condo market is flooded with empty units and a ton of speculators (I think 70-80% vacant in recently completed projects) will be perhaps the next big headline of a bubble bursting unless downtown San Diego beats em to the punch<g>.