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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (6968)	8/24/2001 10:47:54 AM
From: Tommaso	Respond to of 23153

Despite my post that follows, I mostly agree with you. For example, in the next year or so I am planning to make major restorations to our house, which will really involve in large part rebuilding it. It dates from 1923 and has a tile roof that need to be lifted off for repairs and put back down. In my post I was thinking more of the real estate component than the cost of the structure--though that is certainly inflated as well. But I think you are absolutely right, that putting paper gains into improving a solid structure that you can use and enjoy is a good idea. What I worry about is--say--another friend of mine who was buying a modest house at the peak of the Route 128 Boston area boom about 20 years ago. "I think of this as an investment," he said. A year later it must have lost 20% of its market value and he was holding the mortgage.

To: Think4Yourself who wrote (6968)	8/24/2001 10:54:28 AM
From: Second_Titan	Read Replies (1) \| Respond to of 23153

The last time CNBC was touting housing I raised the point here that it was a good indication for a selloff. Unfortunately I did not short and we had the recent decline. I am not sure how demographics play into the housing market. But I would say that with a growing population and migration to certain areas of the country, "middle class" housing could be short of supply for some time. The upper end of the housing may be a bubble, but the vast majority of people in the USA are living in houses more likely to cost ~200K. Will this implode? I doubt it as the demographics should support demand and therefore most Americans wont see the last holder of their wealth evaporate. The people who benefited most from the tech bubble are the ones who inflated luxury home prices and they will likely suffer the most. Typical families who felt a little giddy may have overspent on home improvements, SUV's etc. Until they work off their debt I doubt they will be "shopping till they drop". So to clarify I suspect discretionary spending will be under the gun until the sky's are cleared of ominous storm clouds, but I dont think there is much of a housing bubble to burst for most American home owners.

To: Think4Yourself who wrote (6968)	8/24/2001 11:45:05 AM
From: JHP	Read Replies (1) \| Respond to of 23153

Probably not one of the nearby Toll Brother houses, which are beautiful, ,,, you better read the series the Boston Globe did on TOLL brothers... they build POS houses. regards john

To: Think4Yourself who wrote (6968)	8/24/2001 11:49:42 AM
From: William JH	Read Replies (1) \| Respond to of 23153

JQP, Thanks for bring up PYR on the old thread. Didn't know what had happened to it, never followed it, but I remember the minute by minute updates and flare sightings that were flowing on it both on SI and Yahoo. Thankfully my contrary nature keeps me away from hype like that. Regards,