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

To: J. P. who wrote (57681)	7/13/2006 5:53:22 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 306849

Where will you be buying? Phoenix, Florida, Hawaii, California are already seeing significant(IMO) price drops.

To: J. P. who wrote (57681)	7/13/2006 6:00:17 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

>>I'm interested because we need a bigger house, but there is no way I'm buyin' now!<< It already has resulted in lower prices at least here in AZ, in Vegas, in Beantown and in Florida. The typical pattern as the cycle rolls over is for transaction volume to drop first as qualified and willing buyers drop out. That appears to have begun on a national basis beginning 07/05 or so. Prices can even continue higher (for awhile). Then the more leveraged or speculative buyers begin panicking and prices decline (which also discourages some buyers, leading to a vicious cycle). Then prices continue dropping. How long it will last is anyone's guess, but a couple more years to the bottom would be a normal cycle. This one may be "bigger than normal", so be patient.....is renting a possibility?

To: J. P. who wrote (57681)	7/13/2006 8:35:35 PM
From: mishedlo	Respond to of 306849

It already HAS In many places and most likely your area too. Median prices are still rising as low end buyers are squeezed out so more sales relatively are for the upper middle end. On a square foot basis or a comp basis prices are acttually falling. But they weill likely fall 3 more years or more before we have just given back total, nonsense. Then perhaps another 3-5 years on top of it. Mish

To: J. P. who wrote (57681)	7/13/2006 9:52:18 PM
From: John Chen	Read Replies (1) \| Respond to of 306849

J.P,re:"no way I'm buying now!". Prior cycle was 10+ years from peak to bottom, 5+ years for levelling off, then Boom ! You're Dr. RE investement. It's not always the same. It could be longer or it could be shorter. With labor globalization, war on terror, war on this, war on that, your guess is as good as Bush's guess-er. One thing for sure, USA is going to print lots, lots of money (inflation), mostly we need it for a multi-generation war on this, war on that. It's blank check from the gov. If you need a bigger house, think about it, the later you buy, the bigger house you can buy, with lesser burden.