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

To: steve susko who wrote (50925)	5/3/2002 4:34:18 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 65232

high misery index == depressed housing prices I recall my first property in Mass2shits it was a lakeside pieceofshit cottage for $50k in 1980 (by 1985 it was worth $125k, when rates dropped to 10%) interest rate on my mortgage was a whopping 16.8% initially we had just finished a massively shitful decade all thru the 1970's the stock market sucked wind and oil, gold, silver thrived in fact gold and silver spiked in Jan 1980, as I recall my firm opinion is that housing prices track the bond market because a property is just a well collateralized indebted asset thus, it is a debt instrument that can be well trusted but a debt instrument nonetheless I believe you incorrectly defined MISERY INDEX it is unemployment rate plus interest rate (inflation and interest rates are two testicles in the same sack) misery equates to high jobless rates mortgages are expensive as all getout with high mortgage rates so property shits the bed, and den, and basement, and esp the backyard but in its favor is a firm bottom with real hard asset value sometimes entire cities go bankrupt though it is rare, but check East St Louis in 1980's / jim