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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Fishfinder who wrote (13539)	5/9/2004 3:38:00 PM
From: Steve Lokness	Read Replies (2) of 110194

Scott, can I ask respectfully how old you are? If you say the cost of housing is going way up (which I agree with), what happens when the prices just get too high for wages to support? It becomes a ponsi game, whereby the last to be holding the house loses as there is no one left to buy. I believe the rabid rate of home building has left an oversupply and that there is indeed a potential that it will drag down the rest of the economy. I think you also are playing mind games in asserting that there is a hot market - "downtown" - and that you will be fine as long as you are not overleveraged. Well of course that is true, but it will be all those who are indeed overleveraged who will bring down the entire market for housing. Sounds like a line I heard from a real estate agent trying to justify prices. steve

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