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

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To: russwinter who wrote (36921)	7/25/2005 3:02:40 PM
From: benwood	Read Replies (1) of 110194

Russ, got back from a week in Manzanita (Oregon coast for the rest of you). The house we had rented in years past which has been on the market at least 4 months was still for sale and "reduced" to 495k. The house was a piece of work, just a hodge podge of additions and reworkings, but had a great view from across the frontage road near the downtown area. Still, I was rather shocked. The owner successfully sold off the little garage on a mini-lot down below. I wouldn't have wanted to buy such a queer fixer-upper as a vacation home for more than 175k. Down the street about two blocks, a "sale pending" sign appeared on a vacant lot (closest to surf possible, on a dune). This smallish lot was listed for 525k. A number of other properties were for sale, but I didn't investigate. I wouldn't mind picking up something in town in, oh, about 10 years... --Ben

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