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

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To: russwinter who wrote (29875)	4/2/2005 10:53:51 AM
From: orkrious	Read Replies (2) of 110194

I can tell you w/o a doubt that the RE bubble has burst in the Detroit area. My stepson is getting married this summer and he has been all geeked to buy a house and get in on the action. the kid just graduated from law school last june and passed the bar, but he can't find a job. unlike his brother in a similar situation (getting married this summer, done with law school six months later than his brother, can't find a job), I think I've convinced him not to buy. last night my wife (who's a lifelong realtor) looked through the Multiple Listing Service for condo rentals. it is filled with listings for condo that can't be sold. people are desperate. rents are certainly less than the carrying costs of the condos.

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