Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 41.28

+5.3%

Nov 28 4:00 PM EST

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To: Jack of All Trades who wrote (15522)	5/13/2004 3:48:25 PM
From: Rutgers	Read Replies (1) of 207075

Put me down as saying that this is a RE Top... At a party last weekend, I heard that someone in my old neighborhood listed and received more than $500k for a house that couldn't fetch $150K back in '97. I'm no math major, but that's more than a 200% rise in ~ seven years. On a historical basis, that's gotta be too steep. If rates go up by two points, that's a lot less mortgage people can take on, which in turn should dampen the bidding wars. Like stocks, real estate prices can come down, which happened back in the late 80's. Anyway, I'd love to sell, but where are we gonna go? Actually, what I'd really like to do, is to short that house that just went for $500k+. What kinda reception do you think I would get if I welcomed the people and told them that I just shorted their home? Just kidding. For full disclosure, I also said that we were at a top last year! <g>

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