Quote:
Originally posted by goBigtime
Hardly. If the undesireable areas take a 50% loss, you can bet that the desireable areas will take at least 40%... at least in the areas I am talking about in Northern California.
Maybe NY or Florida is a different sort of whacky, but I can't imagine that BUYERS would still pay doubled or tripled (over hte past 10 years) pre-bubble-burst rates - or more as suggested in
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Yes, NY and the desireable areas of Florida are an entirely different world real estate wise. Will property continue to double every 5 or 6 years maybe not but any real estate person will tell you that buying in these areas and in the high class areas in L.A. will ALWAYS appreciate better than other parts of the country. Always. If you are judging from another market you cannot equate what's going on in your neck of the woods with this.