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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Oak Tree who wrote (34604)	6/1/2003 9:49:20 PM
From: LLCF	Respond to of 74559

< Property in most of the USA is cheaper than in even minor cities in most of europe (germany, england, switzerland, Denmark...) > Yes, Europe is a crowded place and driven by wacky tax factors to boot. And property in many places in the US have not gone up that much I suppose. My Grandmother used to have a pharmacy in downtown Syracuse in the 20's and 30's. She had a chance to buy the building during the depression and didn't, and was forced out by high rents in the late 40's and 50's. The building was boarded up last I say, and probably available for about the same price. :( Values follow income, the average blue collar person makes little more [real] than 30 years ago, so no doubt homes in those area's arent' driven up. If we go into a bad recession with high unemployment residential RE will get killed IMO... if not, it'll be fine. I don't own any REIT's presently except "Legacy Hotels" of Cananda which I've owned for years and just happen to be hanging on to. Doesn't mean there aren't good ones, I'm simply avoiding the entire sector, and no doubt some opportunities. Gotta pick your battles. DAK