The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: The Duke of URL© who wrote (2748)	6/16/2002 11:42:33 PM
From: pbull	Read Replies (2) of 306849

This issue is, in my opinion, the closest thing to a slam dunk out there. I live in a small town in the Midwest, and you should see the real estate listings in the local paper, just dozens and dozens of homes with asking prices of 4 and 5 times the average price of a home here. These knuckleheads here who at one time thought they were rich decided to tie all their money up in a 30-year mortgage. Idiots. They're just idiots. They're about to lose their behinds and they know it. This is a replay of what happened in California and Texas during the S&L fiasco. There will be some financial institutions go under as this ponzi scheme unfolds. All only my opinion. Fact: I called a real estate guy today who's familiar with my place, told him what I would take for it and he said, oh, he could get more than that. That's the kind of offer I can't refuse. PB

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