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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (39513)	10/28/1999 3:37:00 PM
From: Defrocked	Read Replies (1) \| Respond to of 44573

OT...real estate Housing has doubled in four years here. During the last 9 months, a neighbor to my east "flipped" his home he'd lived in for one year at a 25%(250K) gain. The house sold in four weeks. Three months ago, a neighbor to the west sold his house, due to a job change, after owning it for less than a year for a 30%(300k) gain. The place sold in two weeks. Six weeks ago a third neighbor sold his house with a newspaper ad headline "For sale by owner, A Cool Million". It sold within two hours of morning newspaper delivery. Granted I live in a good area. But the new townhome and apartment construction going on is as heated-up as, or more than, it was in '87. A 25bp push to the Fed funds target isn't going do anything to dampen credit demand IMHO. Heck, stocks will probably rally on a hike as the uncertainty is lifted. The wealth effect is alive and jumping from my perspective.