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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: George Burdell who wrote (12500)6/23/2003 11:43:56 PM
From: Bucky Katt  Read Replies (1) of 13094
 
This is a timely addition to this discussion>
From Prudent Bear..

Here in Dallas the weather is hot but the mega-housing market is not. According to the Morning News, existing home sales in general are off 5% this year, but luxury home sales – those going for more than $600,000 - are down 15%. For the record, there are plenty of million dollar homes on the market in the DFW area – about 700, or 40% more than two years ago. According to at least one realtor, there are some fine bargains in the mega-home market, some priced below what the home owners have in them. For example, one house the size of a strip center is priced to sell at less than $10 million, even though the owners allegedly have $15 million “in the house.” The realtor should point out that if the buyer put that $5 million saved in a bank and he could earn enough interest to pay for the family newspaper subscription every year. If he acts before Wednesday.

California’s Gov. Gray Davis proved he is man of action by tripling the annual vehicle license fee. As a result, the annual fee on the average car should increase by about $160 to $440. Ouch.
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