Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (37477)	8/1/2005 10:47:51 AM
From: russwinter	Read Replies (1) \| Respond to of 110194

<So it must be Nevada and Arizona that is leading the way?> It's clearly not Nevada any more, Arizona is questionable too. I think the data is bogus. In fact the purchase index and sales pending is misleading because so much of it is speculator contract driven, not actually closings. It's the language and semantics again. What is a sale for instance, just someone entering into a purchase and sale contract? The question du jour is this : are speculators who have deposits down actually closing their deals on new construction? If so, how many? I went by my favorite canary in a mind shift, the Pinnacle in PDX's Pearl . I did a balcony count, and open curtain, furniture check. I know get a life, but I estimated at least half were empty, and it's been three months that this place has been ready for occupancy. And now Hoyt Reality has their brand new office to sell the Metropolitan which will break ground across the street. What speculator in their right mind will buy already finished in 50% vacant Pinnacle, when he can play the deposit float game across the street?