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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: David Culver who wrote (7508)	8/28/2004 1:06:38 AM
From: Seeker of Truth	Read Replies (2) \| Respond to of 11633

"European real estate overpriced compared to North America." Economically, the largest part of North America is the US. I see the US headed straight for collapse. The labour force is undereducated, local rich are more and more inclined to oppose taxation for public school education; they send their kids to private schools. The populace doesn't save, but spends it all. The government way overspends. The public debt mounts higher and higher. The government lends money with a negative real interest rate. The foreign policy of the currently dominant party consists of a combination of an alliance with Israel to crush the Palestinians and an unending push for the interests of the big oil companies. I have little doubt that US real estate, from office towers to shopping centers, is overpriced. As for shopping at Riocan, more power to Riocan. But I think the oil crisis has yet to unfold and one of its results will be fewer visits by car to shopping centers. Most shopping centers whether those of Riocan REIT or CWT REIT are in the suburbs, inaccessible by public transportation. Two years ago European real estate stocks were selling for considerably lower than the appraised value of the properties less all debts. That's no longer true but there is no premium of the stock value over the underlying value. The latter increases slowly and fairly steadily; I'm happy with European real estate companies, the best of them, of course.