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

To: Tradelite who wrote (43972)	11/3/2005 2:32:59 PM
From: Tommaso	Read Replies (1) \| Respond to of 306849

>>>If I had the time and the inclination to argue politics<< But you do have the time and inclination, as you just showed. Perhaps there is something else missing. +++++++++++++++++++++++++++++++++++++++++++++++++++ I live in a house that was, in the early 1930s, foreclosed on and became for some years the property of an insurance company that treated it as rental property. As the country began to recover economically at the outbreak of World War II, a family was able to buy it, for less than its construction costs 16 years before. There is so much more surplus housing in the United States now (with millions of "second homes" that are perfectly suitable as primary residences) that I cannot imagine how the coming bear market in real estate will play out. Gasoline prices may cut the values of distant vacation places drastically, as people find the 250-mile weekending drives costing them thousands of dollars a year. Taxes are already very high on many vacation houses, especially beachfront property. The onslaught of so many hurricanes doesn't help either, along the Atlantic and Gulf coasts. And if the tax breaks on mortgages are cut (and even eliminated for vacation homes) there's another downer for values.