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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (6098)	5/11/2004 7:36:34 AM
From: KyrosL	Respond to of 116555

South Florida real estate does not always go up. It took many years for real estate to recover, in real terms, from the top of the previous boom in the late seventies. Throughout the eighties and early nineties, real estate estate prices in South Florida lagged inflation.

To: JRI who wrote (6098)	5/11/2004 7:53:42 AM
From: Elroy Jetson	Read Replies (3) \| Respond to of 116555

Over the past twenty years, every time someone has told me why real estate in a particular location should not correlate with income in the long run, they have been proved wrong. Without exception. This same connection predicted the failure of the real estate bubble in Southern California in 1880 up through current times, as well as Hawaiian real estate bubbles and those in Australia. I find it extremely unlikely that Florida is different. Historical examples should be ignored at your own peril. As Mark Twain said, "History doesn't repeat itself, but it likes to rhyme." Mark Twain also suggested that, "The man who sets out to carry a cat by its tail learns something that will always be useful and which never will grow dim or doubtful." In other words, some people can only learn things through their own experience. Twain certainly did himself, losing a vast fortune in various investments he had been advised against. I suspect your Florida real estate venture will teach you something which will always be useful and which will never grow dim or doubtful.