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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 7:33:02 PM
From: BigBull  Read Replies (2) of 436258
 
Agreed and agreed. Just suggesting that ANY overleveraged asset is subject to sharp price declines from time to time even if people get direct use out of it. I vividly remember what happened to Northeast residential real estate boom after the '87 stock market crash. NYC co-op prices declined almost immediately then the cancer spread to NJ, Conn, Pa, Mass, NH etc etc. We're talkin 30 - 40 percent declines in many cases. Didn't really start any meaningful recovery until after the RTC finaly cleared out the last of the weak hands. California is ripe for the same kind of action with the Naz demise.
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