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To: Bucky Katt who wrote (10959)	4/29/2002 10:20:45 PM
From: Jibacoa	Respond to of 13094

<<Trouble in real-estate.>> Down here in Florida we are still having a booming business with the price on apartments,houses,etc. going up unabated.<g> In the Key Biscayne area houses that were sold in the early 60s for $ 20,000 are now been bought for $600,000 in order to demolish them and build a $1 M house. Part of the "irrational behavior" may be due in part to the influx of rich people coming in from Venezuela, Argentina, Colombia and other countries having economic and political problems. Real estate has had its share of bull and bear markets over the years, but on the long run if you buy at the right location the price will go up with time.<g> The only problem is that the taxes also go up. Those houses in Key Biscayne are now paying close to $20,000 in tax per year.<g> RAGL Bernard