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In Southampton New York they charge to build 200-250 per sq feet
(plus cost of land)
Ben
----- Original Message -----
From: <jvc689@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, July 25, 2004 12:07 PM
Subject: [RT]-Homes
> Just so it is clear.Where are these houses located? How many square feet
> of living space doe one get for $900,000 and what is the lot size?
>
> I doubt that there is any place that a quality house can not be built for
> $100 per square foot plus lot.
>
> Many people just buy large vanity houses for two people and no children.
> So ego plays into financial home choices also.
>
> I ran into the same experience looking in Cape Corral, FL. Houses were
> mostly cinder block, stucco and buyers in a lot of cases had to pay the
> water and sewer assessment. People were buying houses and putting them up
> for sale in a year. It seemed like the greater fool theory to me. Prices
> come down when mortgage rates go up since affordability on "buying house
> on minimum margin" make payments higher...obviously.
>
> You can still buy magnificent Beach front homes in Myrtle Beach for around
> $1,000,000 , 3 BR 2 bath Ocean front condos for $330,000 and lake
> side/back/front homes just a few miles from the beach for less than that.
>
> Likewise the houses here go up with each new development extension because
> the lot costs go up. I know of people who bought multi houses, rent them
> and plan to sell about five years later for handsome profits.
>
> Just my take. It is not always as clear cut as it seems.
>
> Sincerely,
>
> John
>
> > Another interesting lookback into history is the 1930's. Compare the
> policies Hoover implemented after the roaring 20's to what's going to be
> 'proposed' this week in MA.....
> > ----- Original Message -----
> > From: Pete Hallock
> > To: realtraders@xxxxxxxxxxxxxxx
> > Cc: NQoos@xxxxxxxxxxxxxxx
> > Sent: Saturday, July 24, 2004 7:36 PM
> > Subject: Re: [RT]
> >
> >
> > Ira,
> >
> > Prices going up? I like to think of it as our currency continuing to
> > lose value. Legal tender laws are the only thing saving it.
> >
> > It's only been a little over thiry years since Nixon cut the dollar
> > loose to float. Perhaps the grand experiment with our fiat currency is
> nearing its end. After all, when one looks back in history, none have
> ever endured. Have a great weekend.
> >
> > Pete Hallock
> >
> > www.xlibris.com/duped.html
> > ----- Original Message -----
> > From: mr.ira
> > To: real traders
> > Cc: NQoos@xxxxxxxxxxxxxxx
> > Sent: Saturday, July 24, 2004 7:14 PM
> > Subject: [RT]
> >
> >
> > The housing boom must be near an end. There was an article in
> > today's paper about people lined up 2 days in advance, living in their
> cars, in order to buy homes that start at $900,000. The
> > average price of homes here is going up about $3000 per week. Last week
> the average price was $500,000, today it is $503,000.
> >
> > The housing market here is like the stock market in 1999 and 2000.
> > I don't think the housing market will fall to the same degree as the
> stock market did, but a 20% drop will hurt a lot of people. It will
> also reflect upon some commodities, housing stocks and housing
> > related stocks.
> >
> > Of course there is no inflation. Just ask the government.
> >
> > Have a good week end. Ira.
> >
> >
> > Yahoo! Groups Sponsor
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> >
> >
>
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