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

To: John Vosilla who wrote (64163)	6/20/2006 11:18:05 AM
From: russwinter	Respond to of 110194

Are there that many rich folks that can afford to carry $600k condos in mediocre locations as vacation/second homes.> The Pearl isn't exactly a "mediocre location", after all I live there <g>. I've asked the realtor I have some contact with, who the buyers are, and he told me "across the board", including foreign. So I just think it's a large group of generic hard to define speculators, some rich, some not so rich. In otherwords, a classic mania that sweeps up all kinds. As my one year lease comes up, it's interesting that the property manager who handles my rental is putting pressure on me, to sign at least a six month lease, and I just want month to month going forward. I've been a very reliable tenant, and yet he tacitly suggested that they might want to market for a longer term renter. I told them to be sure to give me proper notice if so, and wished them luck filling the vacancy when I move out. Figured if that happened, I'd just travel abroad a couple months, and save on rent and housing costs all together. Obviously, the owner is petrified about a vacancy and wants reassurance from me. But, I don't give a f**k what they do, it's his dilemna, not mine.

To: John Vosilla who wrote (64163)	6/20/2006 12:13:24 PM
From: loantech	Read Replies (1) \| Respond to of 110194

Hi john, So it is going on down there too? Well if we get big breaks in condo pricing I think it will affect the single family dwelling market too. Yes a lot of people are making money. I think the doom and gloomer crowd me included see the overall perspective from average wage earners on down not from the view the "beautiful" people have who are grossing $125,000 per year vs 60K. So if you are in the 60K group or less on gross income I think the noose is tightening and providing along term reason for doom and gloom. BWDIK? Tom