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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 252.74+0.3%Jan 28 3:59 PM EST
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To: kapkan4u who wrote (79683)5/8/2002 12:12:05 AM
From: Jim McMannisRead Replies (2) of 275872
 
RE:"Home builders are at an all time high. I wish I had guts to short the heck out of them"

Without the tax break (no cap gains on sale of primary residence after 2 years) and the low interest rates housing prices never would have bubbled this much. Out of those two factors, rates backing up seems more likely than a repeal of the tax cut, at least in the short run. However if either of those happens it's "turn out the lights, the party is over", sooner rather than later. Housing already slowing down however and that will just add to the ballooning unemployment rolls..

When you look at the charts I just posted to Dan3 and the similarity between 1929 and 2000 is hard to imagine that we will survive this amount of wealth reduction without major economic ramifications down the road...
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