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

To: mishedlo who wrote (59839)	8/13/2006 5:46:13 AM
From: Travis_Bickle	Respond to of 306849

I like the pics. You really have to see it for yourself to understand the scope of the problem. The funds that are holding housing stocks should spring for one of Mike's tours, it would save their investors a lot of money.

To: mishedlo who wrote (59839)	8/13/2006 10:49:06 AM
From: John Vosilla	Respond to of 306849

Owners going to be in real trouble renting at the higher end especially in SW Florida. A $1500-2000 rent range on $400k condos is probably way optimistic. Anyone that well off to afford that already owns property. Local economy doesn't produce high paying jobs like large urban areas to support that either. Snowbirds look to rent furnished for the season lasting 2-5 months at most. It is a mess. The market will dictate over time a proper price point and use for all this product flooding the market down here. Till then lots of debt cleaning and pain for all involved in the 'ownership society'.

To: mishedlo who wrote (59839)	8/13/2006 10:58:23 AM
From: John Vosilla	Read Replies (2) \| Respond to of 306849

Your predictions of what the future holds should play out in Florida first? Real estate downturn, drop in prices, debt cleansing,loss of many multiplier effect,jobs, huge drop in consumer spending = deflationary downturn. We should all be watching closely over the next 6-12 months how it unfolds. For now we have a severe downturn, prices in some submarkets down substantially, but still most people seem to be working and spending. Prices of everything else still rising.. Still predicting stagflation which seems to be even worse as the months go by and so few seem to get it. Rents and cost of living could double down here in next 5-7 years even as property prices take a huge tumble. I bet you didn't believe me when I said last yr airlines were raising prices and rents at the low to middle end were up substantially either. Pass throughs of skyrocketing energy and RE costs plus expansion of credit are enormous pressures never to be discounted in assuming stable consumer prices.