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Ditto Ira.
No whining just expressing points of view.
I was approached by a builder to co-venture on a 20 unit single home
development next door to a hospital where most employees have a long
commute. He can still put up a decent 3 BR, 2 BA, 2 car garge home in
Loris, SC [about 10 miles from Myrtle Beach} for sale at $115,000 and net
$15,000 per house.
SC imposes a builder to post a bond and provide a 1 year 100% warrantee
and a ten year limited warranty.
Let's face it, the builders will get what the market will tolerate as will
sellers in an inflated market.
Sincerely,
John
> I don't think anyone is whining. I believe that most on this site
> probably own their own home and are participating in this boom. Like
> stock or futures, when is a good time to trade up or down or just buy a
> put. I feel it is time to hedge the housing boom and there are dozens
> of ways to do it.
>
> Ira.
> ----- Original Message -----
> From: Dan Goncharoff
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Sunday, July 25, 2004 5:34 PM
> Subject: Re: [RT]
>
>
> For those who want to understand housing, and not just whine about it:
>
> http://www.frontlinethoughts.com/article.asp?id=mwo070204
> http://www.frontlinethoughts.com/article.asp?id=mwo070904
>
> Regards
> DanG
>
> mr.ira wrote:
>
> 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.
>
>
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