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

To: Tradelite who wrote (38343)	8/17/2005 6:07:57 PM
From: Tradelite	Respond to of 306849

Heh, I just checked the listing of the house down the street that needs to be reduced $400K. Correction: it now needs to come down by $350K. Seller has reduced the price by $50K in the past few days. Sorry, Mr. Seller......you're not there yet, but you're making progress. <<gg>>

To: Tradelite who wrote (38343)	8/17/2005 9:55:06 PM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 306849

Thank you for the good information, Tradelite. I agree that inventory days are not even close to where they were in the early 90's and thus it's still too early to proclaim housing price deflation. However, if the bears are correct in their assessment of unsustainable demand, then inventory days can change quite rapidly when investment properties remain tenantless and/or mortgages reamortize, etc. As of yet, there is just not enough stress in the market to bring prices down, but I believe that we are now in a flattening stage in many major areas of the Northeast such as NYC metro and Boston.