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

To: SouthFloridaGuy who wrote (103140)	2/3/2008 2:20:04 PM
From: renovator	Respond to of 306849

Your biggest problem on Long Island or the better metro area is going to be local taxes. The sellers will be forced to lower prices long before the governments back the rates down. I have seen numerous REO's which will end up sold for 50% off peak but still carry huge--$12-20,000 property taxes. As qualification standards tighten that overhead really limits the buyer pool.

To: SouthFloridaGuy who wrote (103140)	2/3/2008 7:51:29 PM
From: John Vosilla	Respond to of 306849

I don't know....things were very bad in late 1990 and stayed that way for a couple of more years even with Greenspan's tight monetary policy and much higher long term rates yet these stocks skyrocketed from the crash bottom and never looked back.. Do I think many of these homebuilders go under?Absolutely as there is no hope in some of these overbuilt suburban markets with record foreclosures, crashing land values and no margins possible even if you get the lot for nothing on newly built homes no matter how steep the yield curve gets in the next 12-18 months..