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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (68908)	4/29/2008 2:28:43 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 74559

Real estate in both of these coastal areas declined 50% from the peak in the 1989-1996 implosion, but these declines came toward the end. Place like Palmdale predictably declined first, just as they are now. You can buy nearly new 3 bed 2 bath homes in Palmdale now for $100k. Have you ever gone out to see what became of Ray Watt's Lake Los Angeles development of 1986-1989? We went out there a few years ago and there were literally tumbleweeds blowing down the street. The decorative "Lake" Los Angeles was empty because the town could not afford to keep it filled as the residents are now all on welfare or similar economic straits - living in what was a "luxury development". Some places don't come back. We are in the early days of this decline. The price declines in the next few years will startle many. .