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

To: Think4Yourself who wrote (39147)8/26/2005 10:51:17 AM
From: THRespond to of 306849
 
John,

I'm in the Detroit burbs (Royal Oak) and I follow local real estate as well. A massive increase in the number of unsold lofts in the Royal Oak area, complete with signs like this, "XYZ lofts have held their value unlike ABC lofts".

Two houses on my street are approaching the 400 day mark. Unheard of over the past decade, as houses usually averaged about 6-8 days on the market. Both of these homes are listed at absurd prices.

A good friend is involved in local area real estate. He tracks pricing reductions and he has seen a big spike in reductions over the past two months.

When Ford and GM start the real head-cutting (probably this fall), I expect a serious wacking to the median price.

GT
TH



To: Think4Yourself who wrote (39147)8/26/2005 11:06:54 AM
From: bentwayRead Replies (1) | Respond to of 306849
 
I recently read that Ford has joined GM with bond rating of "junk". I know that automakers aren't as large a part of the economy there as they were in previous years, but is this part of the problem? A sense of approaching doom?


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