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

To: Think4Yourself who wrote (57706)7/13/2006 11:24:35 PM
From: John VosillaRespond to of 306849
 
I imagine raw acreage not already permitted, subdivided or improved with infrastructure plummets the most perhaps 80-90%. Elroy knows this dirty secret too<g>

Lots ready to build on should drop by the pricing discount on the new homes in the community if construction costs remain the same. So a new home at say $250k where the lot was $80k that is discounted to $200k to move would make the remaining equivalent lots worth only $30k under GAAP if properly followed by the accountants. Lots of posteuring will be going on for the next couple of years. Looks more and more like Worldcons or Enrons in this industry will be blowing up.



To: Think4Yourself who wrote (57706)7/14/2006 12:03:33 AM
From: BonefishRead Replies (1) | Respond to of 306849
 
Still another 30%-50% downside on the homebuilders. Those are the ones that don't go to 0.

Realtors really starting to suffer down here. Listings are easy to get but the prices are too high. So the Realtor has to incur advertising costs, do useless showings. Shakeout coming.


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