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For a long time Texas would not allow the home equity loan...but the
compulsion to turn balance sheet assets into consumption overcame the
legislature...I wouldn't want to be the banker explaining to a congressional
hearing why he had to foreclose on those homes
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, August 22, 2001 10:39 AM
Subject: Re: [RT] sentiment
> It appears that people have been playing the real estate game for a long
> time now and using any increase in equity to refinance and get more cash
for
> consumption. Just as there was a limit to how high the NASDAQ could be
> pumped, there is a limit to how high the credit bubble can be pumped.
There
> does not seem to be much hard evidence that the real estate game has
reached
> end point. Like all bubbles, it is difficult to forecast a high, however
the
> reaction will be disaster when the limit is reached.
>
> Earl
>
> ----- Original Message -----
> From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, August 22, 2001 8:27 AM
> Subject: Re: [RT] sentiment
>
>
> > My condo sale I mentioned before happened in one day. A house down the
> > street sold in 6 days at the asking price (which was a bit high $460K)
and
> > 20K worth of decks needed to be replaced on it. As I said there is an
> > extreme shortage of used homes here in Minneapolis. Not sure these
prices
> > will hold though, almost a buying panic in spite of the economic
> conditions.
> >
> > Beginning to wonder if people have given up on stocks for the moment and
> > have decided to invest their money in something they can feel and touch,
> and
> > that won't "totally" go away on them? They are worn out?
> > don ewers
> >
> > ----- Original Message -----
> > From: "sptrader" <sptrader@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Wednesday, August 22, 2001 9:14 AM
> > Subject: Re: [RT] sentiment
> >
> >
> > > Here in Denver, 1 year ago, I offered asking price for a home and lost
> it
> > to
> > > someone who offered more than asking price !! My next door neighbor
> just
> > > sold his home in a few days to the first person that looked at it.
$250k
> > for
> > > a small 3 br trilevel (1500sf) is crazy.
> > > Steve
> > >
> > > ----- Original Message -----
> > > From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Tuesday, August 21, 2001 8:52 PM
> > > Subject: Re: [RT] sentiment
> > >
> > >
> > > > In Minneapolis a total sellers market, very few used homes. Prices
> have
> > > gone
> > > > up so much I just sold a condo I bought 2 1/2 years ago that was
using
> > as
> > > an
> > > > office (vs renting office space) for 50% more than I bought it for.
> > > > Incredibly that was up 15% over last December 2000(sold it in July
> > 2001).
> > > >
> > > > So the market seems to vary by region or maybe just peaking here
late?
> > > >
> > > > Hey I may have finally sold a top he-he.
> > > > don ewers
> > > > ----- Original Message -----
> > > > From: <SLAWEKP@xxxxxxx>
> > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Sunday, August 19, 2001 3:41 PM
> > > > Subject: Re: [RT] sentiment
> > > >
> > > >
> > > > > In Seattle expensive (over 1 million) Downtown condos, penthouses
> > marked
> > > > down
> > > > > 35% & no rush of buyers
> > > > >
> > > > > To unsubscribe from this group, send an email to:
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> > > > >
> > > > >
> > > > >
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> > > >
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> > >
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