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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Mosko who wrote (327)8/27/2001 12:58:05 AM
From: TimetobuyRead Replies (1) of 306849
 
Ah yes Contractors. We can't live without them when times are good and treat them like yesterday's news when times are bad. The government should have some type of program to help out contractors. They provide a very valuable service to our economy.

Fortunately, most know when they are working 7 days a week that it won't and can't last and have enough sense to save up for the lean times ahead. Those that have been around know to watch the economy. Those who are newbies bury their heads in the sand to their own detriment thinking that the good times will surely continue and then cry like babies when they get laid off and their stocks are down 90% or more, lashing out at others thinking something is owed to them. Yes, it may be, but the risks and rewards of contract work are clearly laid out before they even take a job.

You're probably smart waiting to buy something. Bargains will abound to those that are patient. But interest rates probably will rise some before prices bottom. New jobs will arise, but those in dire straights won't be able to dig themselves out before the banks foreclose. Bankruptcies are already higher than they were in 1998 and hiring is now at recession levels. I expect the job market to get ruthless before it gets better and layoffs will rise even higher. Tech spending will be cut more. The strong companies will survive, the weak will die. Now is the time to accumulate shares in the strong ones. They won't be down forever. Housing will be down in some areas and the time to buy will be in a year or two or three or more.

The more things change the more they stay the same. Only the players change.
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