|
PureBytes Links
Trading Reference Links
|
Agree with you about CPBOW. His are bigger than mine....
Here's something we haven't seen in a while but I think we're going to see
again: folks turning in their house keys at the bank and walking away from
properties. Wait 'till the next downturn comes ('99? '00?) and properties'
market values begin falling below the amount mortgaged.
Of course, those with cash at the ready - the true contrarians - will be
buying property for cents on the dollar - just at the time when it looks
like real-estate is the worst investment you could make. Have your
checkbook ready. Money is made when you BUY real-estate, not when you sell.
And remember what Confucius says: "He who buy Asia now, profit handsomely
in future."
All the best,
TJ
-----Original Message-----
From: Neal T. Weintraub <thevindicator@xxxxxxxxxxx>
To: cpbow@xxxxxxxxxxxxx <cpbow@xxxxxxxxxxxxx>
Cc: OMEGA-LIST@xxxxxxxxxx <OMEGA-LIST@xxxxxxxxxx>
Date: Sunday, August 02, 1998 3:34 PM
Subject: Re: NUNS OF THE NFA
In many messages there is another thread. Did you know that the average
family has an outstanding credit card debt of 20 grand that is re-financed
as mortgage debt. and that families that have taken out these loans are
usually in greater debt than before. This study was done by Brittan
Associates in Atlanta.
Now banks and mortgage companies are killing each other to make second and
third mortgages. Well, we all talk about deflation..it there are any
problems with the economy watch the real estate bubble come tumbling down.
Well I know this is not an indicator that you can punch in...Tokyo and Hong
Kong had their real estate bubble. You cannot finance growth forever based
on debt. Watch Consumer confidence indicators for a clue of when the stock
market may be turning around. I am assuming we are still in a bull market.
And keep your eye interest rates. But you folksknew that!
It took a lot of guts for cpbow to speak up.
|