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Strategies & Market Trends : Strictly: Drilling II
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To: Victor Lazlo who wrote (27333)2/3/2003 5:40:10 PM
From: Silver Super Bull  Read Replies (2) of 36161
 
Victor,

RE: <I don't suppose you realize that over %40 of homes are owned outright.>

Actually I do. Barron's just ran an article (Jan. 20) with various statistics on housing and debt, and it does quote that statistic. It also says the remaining homeowners have debt burdens exceeding 80% value of their homes. My interpretation of this is that it won't take a large real estate collapse before many people find themselves with no equity in their homes.

RE: <2. Homeowners don't come home from work every day, check the value of their homes, and think about whether to sell or buy an additional one the next day at 9:30 am.>

True. But then again, homes can be frightfully illiquid when you want to sell.

RE: <real estate right now is not the tech mkt of 2000. Far from it. >

I generally agree...although I could easily see some real estate falling 80% in value.

DB
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