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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (64)	10/23/2000 3:23:27 PM
From: swisstrader	Respond to of 74559

excar: could be the lag effect we spoke of earlier, although same for my neighborhood...I've looked at MLS listings on ask vs actual prices paid and they're STILL getting asking price and ABOVE on many homes in the Northeast areas...further, there are loads of multimillion dollar homes that are sold within days or weeks...no signs of a downturn here...salaries continue to go up, Wall Street continuing to reap terrific profits, economy still in check, etc...still looking for the sky to fall. p.s. Oct, a notorious month for selling off, is almost all done.

To: excardog who wrote (64)	10/23/2000 7:07:33 PM
From: iowamann, Spam Queen	Respond to of 74559

Piece of sh*t houses selling in the SFV of CA for $300,000.

To: excardog who wrote (64)	10/23/2000 8:41:23 PM
From: coug	Read Replies (1) \| Respond to of 74559

excardog, <<<<tradermike, I live in a small enclave 10 minutes from downtown Portland and an interesting thing has been going on here of recent. There have been three homes sold for over $3 million each and there is a contingency sale on a fourth that is on the river for 7 million. Now these prices are probably double what real market value used to be just 1 year ago. It's really kind of strange. High end sales of cars though softening have not seen the slow down of the overall Ford,GM type stuff. I'm told that high end homes are in demand but the middle market is languishing. Seems rather odd to me since one would think the very rich would be the first to pull in their horns. Maybe it's "new money" folks. >>>>>> Is not the above statement just reflecting and is typical of the late stages of an economic expansion as the discrepancy of wealth increases? The discrepancy being proportional to the degree of expansion.. This current cycle IMO, being an extreme example.. And when it bursts..We pick up the pieces and we start all over again.. A leveling mechanism to some degree.. Just my thoughts, coug