Market Downturn ?

How will the global downturn in the financial world affect the world of virtual real estate ? Will it be like the housing market and see the prices of homes around the world dropping by up to 30% or will it survive the present turmoil ?

On a brighter note, there have been sales of $4 million at the T.R.A.F.F.I.C. conference in New York  ( a auction of domain names ) and another million in after sales associated with the conference, but in general sales seem to be down, with only a dozen five figure sales at the end of September and the first week of October. The top ten for this period were all .com domains. The highest price paid was for bluecollar.com selling for $28,750.

Maybe the sales at the conference affected the market, but I think sales in general are down, but we will have to wait and see.

Tags: conference, global, market, traffic