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

To: Jim Willie CB who wrote (50935)	5/3/2002 5:38:48 PM
From: steve susko	Respond to of 65232

Thanks for the walk down memory lane on US housing. Got to learn from history or pay. Municipalities are getting additional revenues off higher home prices, even existing owner appraisal are kept adjusted upwards. I think in some state it can even be appraised for property tax beyond original purchase price. I think a lot of cylinders are running on borrowed time.

To: Jim Willie CB who wrote (50935)	5/3/2002 7:23:51 PM
From: steve susko	Read Replies (2) \| Respond to of 65232

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.... So, did you buy the cottage at the bottom price of that period? Did the housing price collapsed with rising interest rate in the mid to late 70's?