new evidence of real estate TOP: Boston bigs selling
just got a phone call from a best friend in Boston area
we hung out together frequently in church, bbq's, restaurants, tennis, ski
he said two powerhouse leaders just sold 100% of their entire residential property
any commercial property desired for sale is being retained, since pricing is very soft/poor
the Boston Globe newspaper is his source of info
first is Flatley, who owns the Tara chain
I used to have Digital meetings in Nashua Sheraton Tara (NH)
and used to have Staples Christmas parties in Framingham Sheraton Tara (MA)
well Flatley sold all his residential, and still holds the commercials like Tara
second is DeWolfe, a regional real estate broker/owner
he sold all his residential, and holds his brokerage agency
each owner is a man in young 70's
each is a major player in Boston Real Estate market
each sold out, at what I believe to be... THE TOP
my friend Ed owns considerable commercial property himself
this autumn and winter, he sold 50% of his properties
he said he thought it was the top, or close to it
we agreed that the biggest asset implosion in stock history has now become a big economic damper, with only real estate holding up among asset groups, primarily because of low mortgage rates
if jobs deteriorate, or rates rise, then RE breaks down
Fast Eddy is a sharp guy, a nice Armenian guy (one eyebrow)
a good tennis backhand, but not as good as mine
a real good serve, better than mine
but no net game to contend with mine
I love the guy, and miss hanging with him very much
/ jim |
