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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: westpacific who wrote (91896)3/5/2008 12:38:13 PM
From: GST   of 110194
 
I am not advocating real estate in New York -- nothing could be further from my mind. But if you want to pick a US market that could at least come up with a plausible rationale for maintaining high valuations, it might be New York. In places where houses are dirt cheap it makes no sense to assume they will be anything but dirt cheap in the future. The main thrust is this: we are now seeing the beginnings and consequences of an economic US dollar dead zone.
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