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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Terry Whitman who wrote (67619)10/9/1999 9:20:00 AM
From: donald sew  Read Replies (1) of 86076
 
Terry,

>>>> My friend, who has been in the real estate biz in this area for the last 30 years told me once- There's been more money lost in real estate speculation than everything else combined. I believe him. <<<<

I believe it was in the early 90's, and one friend I knew bought a small house in LONG ISLAND for about 200,000 only to have drop in value to about 140,000 the next year, and for job reasons he could not stay to ride it out. Another friend bought a condo for 75,000 about the same time and sold it for 40,000 3 years ago.

Many feel that real estate just continues up, and that was my parents belief back in the 50's, but as in all things in nature there are cycles.

seeya
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