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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (153596)2/27/2002 9:42:15 AM
From: Mike M2  Read Replies (1) of 436258
 
MM, how long? I think it has topped and just starting to slow. I notice the homes in my area are taking a little longer to sell and spread has increased between list and ultimate sale price. At this point, many do not notice but I have a sixth sense for TL & EV -g- . Recently a 2 acre lot( ready to build) in Fairfield, CT sold for $700 K the seller paid $900K in March 2000. BTW that lot was on the market for a year. That same lot sold for $350 K in Oct. 97. Even if we stay in a range the wealth effect is gone - no more big gains in the stock market means less extravagant spending. Real estate cannot continue to appreciate faster than incomes indefinitely. mike ho ho ho
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