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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (8023)	10/14/2000 1:19:17 PM
From: Boplicity	Read Replies (2) \| Respond to of 65232

and they sell their MacMansions in mass. Greg

To: Jim Willie CB who wrote (8023)	10/14/2000 1:35:32 PM
From: RR	Read Replies (1) \| Respond to of 65232

JW/Greg: I've been buying/selling property in resort areas of Colo for over 10 years. Watch it closely so I perked up with your comments about real estate slowdown. I have always figured it would slow down, money run out, yet I've been saying that for years and there is still no slowing down it seems. I keep saying, "where is all this money coming from." Interesting stories from realtors about the boomers spending mom/dad's money now, too. The boomer effect and the "obnoxiousness of wealth" is so obvious in the resort areas of Colorado. The cash transactions are unbelievable. Construction, developments, etc. all see no slowing. The realty groups forecast at least 10 more years of healthy growth up there. I use to play a game in that I'd stand and look 360 degrees and to see if I could see anywhere that there was no development underway. Anyway, I just got some charts recently that showed the sales YTD for the Vail/Breckenridge area up there. I fully expected to see the chart drop off this reporting period. Did it? No. Unreal... it just keeps going and going. I really thought it would have bumped back or stalled, but it didn't. Hey, somebody out there has got a ton of money and they keep spending it, at least there. Oftentimes folks build million dollar homes up there sight unseen. Builders that I've driven around with will show me homes that they built and finished months ago that the owner has never even seen yet, but had already paid the builder in cash. Unreal. Yep, the "obnoxiousness of wealth." FYI. Rick