The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (32856)	6/7/2005 3:35:15 PM
From: Mike Johnston	Read Replies (4) of 306849

I am sure a lot of people that bought an apartment in NYC in late 80's had regretted that decision after the market had dropped 35%. It is not an insecure person that cashes out his profits, it is the one who like sheep chases the market out of fear and regret. It is a no brainer to unload real estate now, the signs are everywhere, the magazine covers, shoe shine boys turned speculators, 22 year old geniuses, the "new" economists that gloat about a "perpetual wealth creating machine". If people are stretching beyond reason to afford to buy now, what is going to propel prices further ? There is no such thing as a free lunch and money and wealth cannot be created out of nothing. Quite soon a lot of people will learn this basic law of economics. The only way i can be wrong about this is if the Fed creates hyperinflation.

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