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


To: mishedlo who wrote (53947)2/16/2006 4:33:52 AM
From: Mike Johnston  Respond to of 110194
 
What a great read !
What a misallocation of capital with motels being converted into condos.

And this quote is hilarious:

"I looked at two of them yesterday. One was a "cottage, 284 sq. feet", the other was a "cute little condo bungalow" of 300 sq. ft. These two "investment properties" listed for $390,000 and $395,000 respectively. In former years, they were basically tool sheds. Those two tool sheds will be back to reality before this is all over."