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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] What are you basing it on? Posted by Gc on April 18, 2008 at 1:54 PM In Reply to: Re: Back to 2004 Prices: posted by Daniel D on April 15, 2008 at 5:36 PM You mentioned: "We'll se 2001 prices if not lower". I am curious...what are you basing your assumption on? My gut tells me that it will probably get back to those levels, however very few people would agree with me on that, specially since I heard Bruce Norris say back in 2006 that he would expect prices to fall about 25-30%. Well, if we talk about CA we are about 25% lower already in many areas. To get to 2001 home prices, it would have to fall by 75% more. However the fact that prices skyrocketed that much in the first place is ridiculous, so my gut tells me that 2001 numbers could be right. However if that is the case, pretty much nobody would make any money buying at the auction at 30% discount from todays price. What is your experience in RE? Give me your opinion. GC about what you are using to estimate : this is just the beginning, we'll see 2001 prices if not lower. In O.C I'm seeing more NOD in "upper income" coastal areas. : : http://biz.yahoo.com/ap/080415/california_homes.html Follow Ups: Re: What are you basing it on? Daniel De Carolis 3:00 PM, 04/18/08 (2) Re: What are you basing it on? Tom 10:08 PM, 05/05/08 (1) Re: What are you basing it on? Daniel De Carolis 5:15 PM, 05/06/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : You mentioned: "We'll se 2001 prices if not lower". I am curious...what are you basing your assumption on? My gut tells me that it will probably get back to those levels, however very few people would agree with me on that, specially since I heard Bruce Norris say back in 2006 that he would expect prices to fall about 25-30%. Well, if we talk about CA we are about 25% lower already in many areas. To get to 2001 home prices, it would have to fall by 75% more. However the fact that prices skyrocketed that much in the first place is ridiculous, so my gut tells me that 2001 numbers could be right. However if that is the case, pretty much nobody would make any money buying at the auction at 30% discount from todays price. What is your experience in RE? Give me your opinion. : GC : : about what you are using to estimate : this is just the beginning, we'll see 2001 prices if not lower. In O.C I'm seeing more NOD in "upper income" coastal areas. : : : http://biz.yahoo.com/ap/080415/california_homes.html [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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