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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: David Jones who wrote (5688)9/29/2002 6:11:29 PM
From: Elroy JetsonRead Replies (1) of 306849
 
In other words, prices might stop rising so quickly, but they're not going to drop.

Look at those charts again showing sharp declines in real estate prices. This is exactly why David Lereah, at the National Association of Realtors, looks so foolish. Own real estate for the wrong ten year period and you suffer major price declines. In fact if you mortgage the property you'll suffer a 100% loss.

I could say that the stock market has never declined in price because there has never been a time when 100% of all stocks have declined. Or I could say that stocks have never declined as long as you owned a broad index for at least 50 years. This may be true, but saying it would make me look as foolish as David Lereah.

Repeating David Lereah's foolish statements like a sheep, while stamping your hooves on the ground is not becoming.
Let reality wash over you, like a mind cleansing shower.

charts:

csupomona.edu

farmdoc.uiuc.edu
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