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

To: Tommaso who wrote (86105)	8/19/2007 3:00:30 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

You're right, but where I come from, no rents are low! Two bedroom apartments in less-than-upscale buildings cost more today than my entire house payment (under $1,800 including tax and insurance) was for 30 years. Inflation made the apartments look expensive, and my house look pretty cheap.

To: Tommaso who wrote (86105)	8/19/2007 3:08:30 PM
From: Tradelite	Respond to of 306849

By the way, I don't blame you for not wanting to own the building where you work. Real estate companies rent their office space, too.

To: Tommaso who wrote (86105)	8/19/2007 3:42:43 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<Right now, a lot more money is going "poof" a lot faster than it ever would in rentals, as house prices drop.>> Let's put blame and pain where it belongs: on the people who borrowed more than I'm sure many of them KNEW they could afford, and the lenders who enticed and allowed them to do so. If house prices went up to an extreme because of this, house prices should stabilize and moderate when the problem people and problem lenders get eliminated. I look forward to that day. THE BIG FLUSH IS A GOOD THING. The problems existing today did not happen because of any inherent problem with owning real estate and planning to keep it for more than 5 minutes or 5 months before it's flipped to someone else.