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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (188357)	8/17/2002 12:42:46 PM
From: Les H	Read Replies (2) \| Respond to of 436258

Yardeni sees more room for housing bubble to expand Housing Bubble Watch: "The easy availability of easy money has always been the precondition for any speculative bubble," asserts Prudential Securities strategist Ed Yardeni. Even with interest rates this low, Americans have increased savings by US$454-billion in the past 12 months, providing enough liquidity for one of two things: inflating house prices further or reviving stock prices. And while the masses decide what to do with that cash, mortgage lenders have plenty of cheap funds to lend homeowners. Pointing to anecdotal bubble evidence, Mr. Yardeni sees home prices climbing in excess of 15% for another year, "before the bubble bursts, maybe in 2004." The evidence? His barber says everyone is talking real estate like they talked stocks two years ago, and his last cab driver said he was quitting to become a real estate agent. nationalpost.com{28C58797-6BB0-42BC-B420-2808F9BDE803}