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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: lh56 who wrote (78312)	6/13/2002 11:49:11 AM
From: DlphcOracl	Respond to of 99280

lh56: I wasn't even referring to the real estate bubble, which is an entirely separate issue. I am quite familiar with Chicago and every time I am there I cannot go more than 3 or 4 blocks in the Michigan Ave. area without seeing a large high-rise condominium being built. It is quite reminiscent of the boom in the 1970's, referred to as "Mondo Condo", which took place along the lakefront from several miles north of Michigan Avenue up to the northern edge of the city as it enters Evanston. The condos being built are eerily similar and have the following characteristics: 1. they look as if they came from a cookie cutter and are architecturally tasteless. 2. they are being built in areas of the city that no one knowledgeable (or anyone who has lived in Chicago for any period of time) would consider buying into. 3. they all have between 200-500 units. 4. they are outrageously priced (for Chicago, anyway -- California, NYC, and Boston are an entirely separate issue). Can you say "Real Estate Bubble"?? H-I-I-I-S-S-S-S-S-S!!!