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

To: bentway who wrote (44086)	11/4/2005 12:36:36 PM
From: Live2Sail	Read Replies (1) \| Respond to of 306849

He's also talking about what would qualify as cheap for SF. There may still be demand in that range. I'm seeing a virtual standstill. No sales, but no aggressive sellers. The high-end does seem weaker than lower down. L2S

To: bentway who wrote (44086)	11/4/2005 12:42:19 PM
From: mishedlo	Read Replies (2) \| Respond to of 306849

Whether or not there is any more of it is mostly irrelevant. Of all the locked in places with nowhere to build take a look at Japan. Real estate plunged 18 straight years regardless of it being completely developed. Bottom line: home prices can not stay elevated above peoples ability to pay for them over the long haul. Over the short haul we have obviously proven that nothing matters. San Francisco may be unique but it most assuredly is in a bubble and will get a very serious correction. Bottom line. You are repeating a widely held belief of "scarcity" that has been discredited time and time again and will be discredited once again too. Mish