Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: terry richardson who wrote (15061)	7/2/2002 1:18:49 PM
From: Silver Super Bull	of 36161

Terry, Yes, I think that the UK (at least in certain parts) probably has the biggest speculative frenzy going. I guess the question is how much longer will the bubble last, and what will be its downfall. Perhaps new supply will prick the bubble. In downtown Chicago, you wouldn't believe how many new "luxury" condo buildings (highrises) are nearing completion. At a price per condo of $500,000-$1,500,000. At some point saturation must occur, if it hasn't already. Especially given the weak job and weak overall stock markets. Also, someone on this thread mentioned that bubbles are rarely recognized by everyone before they burst. Well, my read on this is that many on the SDII thread here are aware of the bubble, but I can't tell you how many people I know that think residential real estate is the "way to get rich" in a risk-free fashion. DB

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