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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (55315)	8/24/2006 7:27:59 PM
From: valueminded	Read Replies (2) \| Respond to of 116555

Mish/Regli: I saw an advertisement for a condo on the gulf for 799,000. With the advertisement was the statement that it earned well over 25k in gross rental fees in the past year. Looking at the specifications on the condo, it should be priced at 400,000. I don't think a lexus or other incentives is going to do much. It is quite possible the prior owner overpaid by paying more then the value of the place. This to me just represents financial ineptitude. No different then most of the internet companies commanding foolish valuations in 1999. So I guess in this respect, it is quite possible that people & builders who don't pay attention to intrinsic value may get burned. We shall see.