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To: GST who wrote (143202)	6/20/2002 12:09:36 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 164684

So, your reason why a "positional good" that has been a poor good to be positioned (long) in for the last 20 years should suddenly be attractive is that you expect a bubble to form in it? ;-) OK, now I'm just being contentious. I understand your point - I just don't think it's such a certainty as you suggest. Like everything else we argue about here, only time will tell. Well, everything expect the question of whether craig is a racist, xenophobic pig - we don't need time to find the answer to that one. <g> BTW, re housing, the supply/demand discussion focused on unit volumes and overlooked the possibility that price-points of those units just might matter a whole lot in the future profitability of builders. The size and price of a home that a given consumer might buy is probably more affected by marginal changes in interest rates (or marginal changes in consumer confidence) than whether he buys any home at all, so even if the unit demand isn't expected to decline as long as rates don't go over 9%, the revenues and profitability of builders could take a hit before that. JMO, Bob