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

To: Lizzie Tudor who wrote (87282)	8/27/2007 4:07:24 PM
From: Travis_Bickle	Read Replies (3) \| Respond to of 306849

I think prices will get reasonable again but imo there's no reason to buy anything but ocean front or intracoastal waterway front. The nonsense about having a view of the water doesn't fly, if you build an eight story building in the middle of the ghetto it will have a view of the water from two sides, but you're still living in the middle of the ghetto.

To: Lizzie Tudor who wrote (87282)	8/27/2007 4:22:41 PM
From: KyrosL	Read Replies (2) \| Respond to of 306849

Real Estate bubbles in Florida stay deflated for a looong time after they burst. I bought my house near the top of the late seventies bubble in Florida. Its assessed value stayed below my purchase price for almost two decades. It was fine with me, since I bought it to live in and have no intention to "upgrade" -- my taxes were fixed at a ridiculously low level near the trough of the cycle. In the last five years, my house more than tripled. I expect that its nominal value won't change much for the next decade or two. I bought a Florida condo right before the current bubble started, in the late nineties. I paid a little less than what it sold new in the mid-eighties -- a huge inflation-adjusted price drop over almost a decade and a half. Inflation-adjusted house prices in Florida had been in crash mode for well over ten years before the current bubble started. I hear all the arguments about why Florida housing can't go down and LOL.