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

To: Lizzie Tudor who wrote (49571)	3/6/2006 12:02:01 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

Lizzie, I guess the difference between your scenario and the one here was that the owners I knew held onto their properties thru a condo glut and downturn, and then sold them at the right time. I wasn't dealing with flippers and short-term owners when they originally bought their condos in the 1970s.

To: Lizzie Tudor who wrote (49571)	3/6/2006 12:06:34 PM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

"In general I would say almost every condo buyer in the late 70s early 80s regretted the purchase around here" You sure about that Lizzie? I bet there was a downturn there 73-74 and again around 1980 but anyone who held through the 80's did very well. Always hear about those coastal CA houses in places like Santa Barbara that you could have bought for $60k in 1978 that are worth $1.5M. Great book on the topic called "Buy and hold" by Dave Schumacher in Hermosa Bch area. Not advocating any of this stuff is a good buy today as you well know..