Submitted by bob007 on March 20, 2007 – 11:28pm.
good neighborhoods in LA might hold the value. But the trashy neighborhoods will fall.
Its all related. If trashy neighborhood drops in 1/2, the good ones will also drop in 1/2.
Real estate is all local, yes but when the credit tightening happens its is a national event. Heck I would expect the higher priced to get hit worse due to the fact that its a larger risk the bank will be taking and its going to be harder for people to come up with the larger 20% or whatever will be needed soon.
In effect, I expect them all to crash, and it will start with the entry level houses and spread to the entire spectrum.
Cool.
Cow_tipping.
