Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Skeeter Bug who wrote (91243)	4/6/2001 7:25:45 PM
From: patron_anejo_por_favor	Read Replies (2) of 436258

<<many, many places will not see a r.e. bubble pop b/c they simply don't have a bubble r.e. market>> Skeets, I'm not sure this is true at all.... The vast majority of real estate deals require considerable leverage in the form of the mortgage. Currently the mortgage market is heavily dependant on FNM. If they become impaired and the mortgage market were to dry up, what does that due to the market price of a single family detached home 3 beds, 2baths in, say, Fargo, ND? Since the pool of available buyers would be reduced by a factor of 10 or so, the answer is "It plummets". Perhaps temporarily untill the mortgage lending system regains liquidity, but if you need the cash in a hurry (ie, within a year or 3) you're shagged. Discontinuous markets suck, be they in stocks, gold....or real estate. Regards Patron

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