Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: excardog who wrote (64)	10/23/2000 8:41:23 PM
From: coug	Read Replies (1) of 74559

excardog, <<<<tradermike, I live in a small enclave 10 minutes from downtown Portland and an interesting thing has been going on here of recent. There have been three homes sold for over $3 million each and there is a contingency sale on a fourth that is on the river for 7 million. Now these prices are probably double what real market value used to be just 1 year ago. It's really kind of strange. High end sales of cars though softening have not seen the slow down of the overall Ford,GM type stuff. I'm told that high end homes are in demand but the middle market is languishing. Seems rather odd to me since one would think the very rich would be the first to pull in their horns. Maybe it's "new money" folks. >>>>>> Is not the above statement just reflecting and is typical of the late stages of an economic expansion as the discrepancy of wealth increases? The discrepancy being proportional to the degree of expansion.. This current cycle IMO, being an extreme example.. And when it bursts..We pick up the pieces and we start all over again.. A leveling mechanism to some degree.. Just my thoughts, coug

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