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

To: John Vosilla who wrote (62907)	9/28/2006 9:53:43 AM
From: Les H	Respond to of 306849

Rents seem to be roughly in line with the after-tax monthly mortgage cost without consideration for the management fees, real estate taxes, and the upkeep so long as the seller provides the downpayment and closing costs. Most sales pitches don't delve into those comparisons. When I lived in that area, similar units dropped by 30-50 percent in the 1992 downturn. The old crappy units like these have already dropped by 15-30 percent according to the search that produced the listings but the detached homes and townhomes don't appear to have dropped more than 5-10 percent. Some of the lakefront homes are still appreciating in value.