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To: Lizzie Tudor who wrote (59820)	6/14/2002 2:30:55 PM
From: JakeStraw	Read Replies (1) \| Respond to of 77400

*****OFF TOPIC***** A lot of people are now (due in part to the lackluster stock market) once again looking to real estate as an investment.

To: Lizzie Tudor who wrote (59820)	6/14/2002 3:52:23 PM
From: larry	Respond to of 77400

In Cambridge and Boston, I have noticed huge signs of apartment rental ads. This has not happened in the last 5 years. Talked to a broker yesterday and was told that the business in apartmental rental has cooled off significantly. He was a Harvard PhD but quit his job about 4 years ago getting into the REIT market. There are definite cracks in the REIT market and the Fed and big banks won't be able to keep the party going long. Another thought on the May retail number. The sales slipped 0.9%, but sales in discount retail stores like Wall-Mart boomed. This tells me that weather is not really an excuse, and it seems to be more and more consumers are catering for cheap goods. Together with the sharp drop in the consumer sentiment index today, I think that there is clear sign that consumers are getting tired. larry!