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

To: Secret_Agent_Man who wrote (187083)	2/27/2009 4:03:11 PM
From: MulhollandDrive	Respond to of 306849

the only reason why prices got to those levels was the speculative metric of future appreciation....that quite simply is dead....whole lot of bagholders in w. la in the upper hundred K price point....i will grant you that there will always be people who are willing to part with their cash for properties in proximity to the beach, but nearly $700k for a nearly unbuildable lot? i don't know what these people are smoking...oh what, its venice beach....i think i do<g> also, i'm sure they were careful to make sure none of the broke-ass RV's were parked in front when the pic was taken latimesblogs.latimes.com my son has a hilarious pic he took outside his office window of some dood setting his computer, tv, bike (expensive, btw) out on the sidewalk while he 'rearranged' his furnishings