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

To: CalculatedRisk who wrote (71222)	2/1/2007 10:09:49 PM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 306849

New York metro. No offense, it's a silly question to ask given my name.

To: CalculatedRisk who wrote (71222)	2/4/2007 1:30:21 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<Where can you find a house that rents for $5K and sells for $1 Million? Just curious>> I don't know specifically about $5K, but I can guarantee you will find such houses in the DC area renting for $3,500-4,000 per month (including a couple on my own street)--and you could even have found them at that level many years ago, not just now. Rent, as I always used to say in the real estate biz, is "whatever the landlord can get" and depends strictly on competition, which is usually pretty thin. Large single-family houses for rent are relatively scarce commodities, yet the market for big houses is pretty good among families with kids, the international diplomatic corps and corporate employees working in the area on specific assignments for limited amounts of time.