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: mishedlo who wrote (34677)	6/30/2005 12:28:13 AM
From: Mike Johnston	Read Replies (1) of 306849

I have a friend that had a lifestyle based on his ability to make 2K per day in the stock bubble. To go back to a $250 per day job was a rude awakening. Same thing will happen with 22 year old mortgage brokers/speculators who have been making millions. Ultimately it will be a curse for them. Imagine what would it feel like to reach a financial high point in your life at the age of 22 and then only go down. Some of the windfall profits from a bubble should be withdrawn and put in a safe place, but most of those high fliers will just keep leveraging up thinking they will be able to make an even bigger killing and eventually they will go bust. But can you blame them ? That nice $5 million mansion in Palm Beach is now 15 million so no amount of money is ever enough.

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