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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (132676)	8/15/2005 3:16:32 PM
From: Constant Reader	Read Replies (1) \| Respond to of 793897

I'm not sure. As for the West Coast: I think some areas have hit plateaus of a kind (Portland, OR, perhaps?) while the outlying areas of California (Sacramento/San Bernardino/ Modesto) have just taken off in the last two years. The house Last year, I sold the house I bought in 1994 for twice what I paid for it - not an impressive gain by bubble standards but better than historical rates of return. The new one I bought was mis-priced at 20% below market but has appreciated almost 40% in 14 months. I think the fall from the top could be 30% in this area, about what happened in portions of California in the early '90's.

To: carranza2 who wrote (132676)	8/15/2005 4:03:22 PM
From: Nadine Carroll	Read Replies (1) \| Respond to of 793897

It seems as a matter of intuition--and we know how far that will get you when considering macroeconomic issues, vbg--that the more inflated the bubble, the harder the fall Housing bubbles have a kind of natural brake because people are actually using the houses and can just stay put in them (that is, unless there is a local economic collapse that is driving the housing prices down). When Boston's last housing bubble of the late 80s collapsed, prices dropped about 20% and took about 3 years to hit bottom; then slowly began to recover (now of course they have almost tripled since the bottom).