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

To: MulhollandDrive who wrote (86179)8/20/2007 11:32:43 AM
From: SnowshoeRead Replies (1) | Respond to of 306849
 
When we had our mid 1980s real estate bust here in Alaska, a high proportion of condo owners gave their keys back to the lenders and walked away. Once a certain percentage of owners walked away from a condo it became technically impossible to sell the individual units at any price.

Several years into the property bust, vulture capitalists swooped in and snapped up a number of whole condo developments for 20%-50% of the original sales price. These were turned into apartments, and the investments became highly lucrative when the economy recovered.

The removal of condos from the market helped stabilize the price of houses.



To: MulhollandDrive who wrote (86179)8/20/2007 1:00:46 PM
From: MinosRead Replies (1) | Respond to of 306849
 
FL real estate... Apartment conversion for sure. The demand side should also be helped by an influx of foreign buyers picking up some bargains. Already that's gotta be happening and should continue, particularly if the Fed cuts and the dollar freefalls. It will be slow but the supply/demand pendulum will swing back eventually.


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