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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (8900)2/19/2003 9:34:07 AM
From: Tom MRead Replies (1) of 306849
 
<<Collectively, they [families] have too much income, not too little.>>

Ah the system can take care of that - that's what the stock market and inflation are for -g-. Designed to keep as many as possible as rats on the treadmill. Hell they even bumped the age of eligibility for Social Security up. Reminds me of the Barron's cover a few years back titled "Are You Rich Yet" telling people not to sell at what was the top of the stock market bubble because they'd need $2M to retire on and not the $1M that many had in paper thanks to the dot.coms etc. Think greed will make them make the same mistake and not sell the RE bubble? I'd say that's by design - we shall see.

I try to keep one disposable property, convert to cash, wait & repeat (what a concept buy low & sell high!). I think I read here that there's quite a lag for properties to get to foreclosure auctions being that easy financing's keeping the market hot. Anyone have any good rules of thumb for the auction time frame? I went to one four years after the '87 crash and there were some great deals and the auctioneer couldn't get any bidders. That same time frame, 4 to 6 years post stock market crash, was also a great time to get competitive construction bids.

regards,
Tom
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