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Try Houston, Texas at the end of any one of a number of
Oil booms we have had here.
Today the boom is technology -- not as bad as in Bay
area but a friend of mine who gave up on the oil business
is building $500,000+ homes and cannot build them fast
enough to meet the demand.
I've lived in the same 1900 sq ft townhouse for 30 years
and seen this thing go from $30,000 to $90,000 to $60,000
to $125,000 to $80,000 to $140,000 with the waxing and
waning of the oil economy.
Yeah, it will happen but it takes a while generally for the
slide to complete.
Clyde
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Clyde Lee Chairman/CEO (Home of SwingMachine)
SYTECH Corporation email: <clydelee@xxxxxxx>
7910 Westglen, Suite 105 Work: (713) 783-9540
Houston, TX 77063 Fax: (713) 783-1092
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After joining list the freeware SwingMachine program
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----- Original Message -----
From: "James Taylor" <jptaylor@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, June 04, 2000 21:32
Subject: [RT] Re: Economy and high housing prices
> This is PURE nonsense.
>
> When (not if) the layoffs begin en-masse in the Bay Area, the prices
will
> fall like a stone, just like they did during the last recession.
>
> As it is, the number of greater-fools willing to shell out $400-$600K
for a
> home is drastically shrinking.
>
> Anyone buying into this hype and paying these outlandish prices
deserves
> what they get when the bottom drops out.
>
>
> JT
>
>
> ----- Original Message -----
> From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Saturday, June 03, 2000 3:02 PM
> Subject: [RT] Re: Economy and high housing prices
>
>
> > My take on this is that there is a golden opportunity there.
> >
> > 1. Growing demand.
> > 2. Stagnant to shrinking supply.
> >
> > Create a private school/day care chain to satisfy the demand. In
fact, I
> saw
> > a very intelligent person on CNNfn this winter who is doing exactly
that,
> > targeting fortune 500 company headquarters locations and doing a
landrush
> > business.
> >
> > Michael
> >
> >
> >
> > ----- Original Message -----
> > From: "JW" <JW@xxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Saturday, June 03, 2000 01:41
> > Subject: [RT] Economy and high housing prices
> >
> >
> > | Here's an interesting column from a local reporter for the San
> > | Francisco Chronicle on the other effects of [our] high housing
costs
> >
> >
> > |
> > | The end result is that housing will always go up in price. The
demand
> > | for housing always will outstrip the supply, barring a concerted
and
> > | sustained public and private effort. Such an effort is not only
> > | unlikely, but would transform this area into something so foreign
to
> > | what it is now that it would become undesirable.
> >
> >
> > |
> > | The cost of private schools on the Peninsula has skyrocketed in
the
> > | last five years, in keeping with the huge demand for the very few
> > | openings such schools offer every year.
> >
> >
> > | There is not enough top-quality child care to go around. Parents
of
> > | small preschool children say the situation has become a nightmare.
> >
> >
> >
> >
> >
>
>
>
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