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> At 05:19 PM 9/5/2001, Bilo Selhi wrote:
> >this time the rumor is that US house market
> >is nearing a shakeout.
> >one shake out down, another one to go.
> >my RE sources are telling me that the luxury housing
> >market is grossly overheated all around the country
> >and is about to correct, especially higher prices
> >( expensive ) housing. the rational is that the
> >expensive homes are speculative investment
> >and as the owners
> >will try to take profits towards the end of the trend
> >the crash is imminent.
> >
> >i kinda feel it myself and you might start hearing
> >it on CNBC more often.
> >could anyone with RE connections please confirm
> >that you there is talk going on around...
Your view seems to be supported by Warren Buffet.
I believe he sold his REITs last week.
Rgds,
Kim
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