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: orkrious who wrote (165055)	5/10/2002 3:22:39 PM
From: reaper	Read Replies (4) of 436258

no housing bubble <g> <<Greenspan played down concerns that residential house prices over the past few years constituted an asset bubble. "I don't think we have a bubble in house prices," he said, citing market dynamics that made it more difficult for buyers to jump on a bandwagon as in the stock market. >> Mr. Greenspan might want to actually acquaint himself with the "market dynamics" of the housing market. How in the world does this moron not understand that the refinance/cash-out market in fact DOES allow EVERYBODY to jump on the bandwagon, not just those who are actually buying/selling properties. As I have noted in a prior post, all I need is for ONE condo on my block to actually TRADE and within 3 months the whole block can be re-financed at the new improved higher price. [side note. i got an offer from my bank for a home equity line. applied on-line. said my condo was worth $x. the bank's appraiser CALLED me and asked me questions about the condo. i closed on a $100k equity line at 500 bps, and have now borrowed 90% of the value of my home. can you imagine, these guys just gave me $100 grand and didn't even come to look at the property] <<He added that recent data show some softening of home prices as well. "If there is a big boomlet going, it's not showing itself in the most recent data. The most recent data show some edging off in the overall markets," Greenspan said. >> This is priceless. There is no bubble since prices are starting to come down. That's what Henry Blow-jet said about Amazon. Jeez-us, how did this guy get his job?? Cheers [before anybody asks, i did NOT apply the $100k to add to my ACF short]

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