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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (87267)	3/28/2001 11:20:54 PM
From: Terry Whitman	Read Replies (2) \| Respond to of 436258

Joan- I keep hearing about Freddie and Fannie, and how they are bloated pigs. I wouldn't count on them going too far south. The real estate market would have to suffer an enormous hit. A big nationwide real estate price deflation would have to occur. Not just in NY and CA. If fanny and freddy lose 50%, that's a major depression. It would create the buying opportunity of a lifetime in RE. It has happened at least once before- the 1930's. Land went for less than a dollar an acre in most of the country. Not sure what that would be equal to today since the money has been debased for so long, but I'm gonna guess it would be less than $100/ acre. I will buy all the land I can afford for $80 an acre. They aren't printing any more land, but they will print many, many, more clown bucks.. Regards, TW