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Biotech / Medical : The thread of life -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (586)	10/19/2004 6:38:15 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 1336

"Greenspan Tries to Soothe Housing Worries" I think that speculation in my area has lead to a situation where folks are making money on paper--the county has increased assessments pretty sharply. But folks buying rental units are not actually able to break even on a cash flow basis. That is my guess. I know what rents are, and I see what houses are selling for in my neighborhood. I can do the math. Boy, if you cannot charge enough to pay the for the loan...but feel okay because the value is rising, forget it. Deluded. Of course, folks just refinance and pull money out... I hear about this. The music will stop. The supply of renters will dry up, rents will fall, real estate will get very soft. That is what I think will happen in Seattle next year. Sure, homes are not terribly unaffordable, but why own when you can rent cheaper?!