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

To: Tradelite who wrote (14190)	10/7/2003 10:46:20 AM
From: bozwood	Read Replies (1) \| Respond to of 306849

"My guess is they weren't smart with their timing; they were lucky. How does one ever know where the bottom of such things really is?" The original post said pennies on the dollar. That is a pretty good indication of a bottom generally.

To: Tradelite who wrote (14190)	10/7/2003 12:24:12 PM
From: Bill/WA	Read Replies (1) \| Respond to of 306849

Hi Tradelite, Your point about the average person is well taken because the 2 people I mentioned at the time (1920's) were land brokers and therefore were well aware of the overvalued prices AND scams. So in effect, they had a pretty good idea (much like an insider today) of future direction. An example of someone at the other end of the spectrum was one of my grandfathers, who invested the majority of his money in a banana plantation, of all things, in the panhandle of Florida! (Note: central and north Florida doesn't have a tropical climate<G>). Being born and raised in Palm Beach County on the east coast of Florida (50+ yrs), I myself have seen, and had to endure many "mini booms and busts" as a contractor. Unless signals were extremely clear, I always tried to play it the way Baron Rothchild stated when asked how he made his money, "I always bought too late and sold too early". And that didn't always work.<G> The '20's were interesting times in Palm Beach County, as a kid, I used to sit around my Dad's marina with the locals and people who kept there boats there, and listen to the many stories of those times. Dad's marina was a working marina where all types would gather and jaw-bone, locals and monied, from commercial fisherman, Palm Beach Brokers, members of the Phipps' family(US Steel), old man Kimberly(Kimberly & Clark), Carl Hedstrom(furniture & toys), etc. Very interesting. Dad sold the marina in the early '70's for what was considered an un-Godly amount of money and was nothing like it is today...(www.sailfishmarina.com)...however today, that amount seems small compared to the last selling price, although not so small in comparable dollars. Sorry for the long post, Good trading