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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (29030)2/22/2003 3:09:49 AM
From: Seeker of Truth  Read Replies (2) of 74559
 
Good evening Jay,
"Real estate going kaboom " etc. Such a trend has certainly begun with U.S. office properties. But major European and Canadian real estate companies did reasonably well in 2002 versus 2001. I think the movement toward gold and oil/gas trusts is accompanied to a lesser degree by the movement toward land and such real assets. Nowhere in the world that I know about is residential real estate so vulnerable as in the U.S. because the interest rates are so abnormally low. This situation does not exist in Europe and Canada. Canada will shortly raise interest rates a fourth time, for example. Europe has not dropped them. In short I suspect, but am not sure, that the trend you are talking about is not world wide. Do you see this, for example, in continental China?
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