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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (2763)	6/27/2003 1:08:24 AM
From: GraceZ	Read Replies (2) \| Respond to of 4907

As usual you missed the point. People don't want to buy any asset that they perceive will be cheaper in the future, especially so using a loan. They expect any house that they buy to appreciate. Its this built in expectation that gets accentuated at times like this. I don't know about where you live but the most expensive neighborhoods, the ones most in demand here on the East Coast, the people drive an hour to work, have to send their kids to private school and have an alarm system. Meanwhile America has plenty of little towns where you can send your kids to public school, drive 15 minutes to work and crime is an annual occurrence rather than a daily one....but the real estate just stagnates.