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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (6330)	10/28/2002 11:42:09 AM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

"Real Estate Developers are like cocaine addicts, unable to stop building as long as lenders dispense cash." Sam Zell, largest property owner in the U.S. *** * * * * * * * * * * * * * * * * * * * * * * * * * "I cracked up one day a few weeks ago when Steve Liesman of the Wall Street Journal said in an authoritative tone ...those builders are going to over-build... it always happens." "Real estate only goes up." Tradelite**, small-time know-it-all real estate agent

To: Tradelite who wrote (6330)	10/28/2002 12:21:50 PM
From: The Duke of URL©	Read Replies (1) \| Respond to of 306849

Large homebuilders are pawns of the large banks that fund them. They are nothing more than morgage manufacturers. When the lender pulls the plug, the builder will be the last to know and the most committed. A housing project takes a minimum of five years of capital commitment. Do you think the lender, who is secured by the land is going to warn the builder who is borrowing to get the permits which makes the land MORE valuable as a foreclosure security to the bank?? If you do, then you don't know much about the big picture of real estate.