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If you think you can build a home in the Washington, DC area
for $100/sq. ft. then you haven't built anything here for a few decades.
Residential construction in the suburbs costs >$200/sq. ft.
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Ben
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, July 25, 2004 8:13 PM
Subject: Re: [RT]-Homes
In Southampton New York they charge to build 200-250 per sq
feet(plus cost of land)Ben----- Original Message ----- From:
<jvc689@xxxxxxx>To: <<A
href="">realtraders@xxxxxxxxxxxxxxx>Sent:
Sunday, July 25, 2004 12:07 PMSubject: [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.>
>> >>
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