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

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To: GraceZ who wrote (48740)	1/4/2006 4:53:15 PM
From: ggamer	Read Replies (2) of 110194

"The idea that people have been taking money out of RE in the last five years is totally in conflict with the stats. They have more of their assets in RE than ever before both in percentage of household assets and in aggregate." My cousin, and my brother-in-law are both under 35 years of age and together they own 18 properties in SF Bay Area. Eight of the properties are over $800K and 4 are over $1M. I can assure you that they do not have that kind of savings. They have borrowed from one house and paid the downpayment for the other. When it comes to taxes they either refinance or borrow more to pay the taxes. While some old timers are very conservative with their investments, today's flippers are doing whatever it takes to keep as many homes as they can. They both told me that they are going to sell all their properties this year because they are tired and they want to enjoy life. What that really mean is that they are worried and they know they are going to lose big time. The tide is turning and they are worried.

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