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

To: David Jones who wrote (36407)	7/27/2005 4:21:18 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

That's a polite term for it, David. Greenie always minces words. <<gg>> Here's the best description of the real estate fever I've seen yet, from a broker I happen to know pretty well, who owns the biggest independent real estate company in the DC area....as quoted in Monday's Wash Post: <<Foster said the recent manic market has been fueled by what he called "crazy fools running around buying houses as investments with bad loans, interest-free loans.....They'll get hurt, and I think they should as prices inevitably correct themselves.....A slowdown is needed because so many average people have been priced out of homes or compelled to pay high prices>> [I'm pretty sure he meant "interest-only" loans, but maybe he was using interest-free to make a point.]