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

To: Pogeu Mahone who wrote (79721)	3/5/2007 8:16:02 AM
From: orkrious	Read Replies (1) \| Respond to of 110194

With real estate going to 1991 auction prices , ie 20cents on the dollar, what do you want to buy,gold or real estate? I have 100% of my money in RE. (My condo, 100% owned, is a tiny portion of my PF.) I am looking for a house on a lake here (Detroit), and I actually saw a reasonable deal this weekend. It's still not a steal, and it's too big for us, but there are a lot of people in trouble and patient buyers can do okay. I doubt they'll think they got a bargain in three years, but it doesn't matter for someone who needs a place to live.

To: Pogeu Mahone who wrote (79721)	3/5/2007 1:08:55 PM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

'ie 20cents on the dollar, what do you want to buy,gold or real estate? I am buying real estate, just like 1991.' Not happening yet in FL. At some of the most distressed auctions I follow still going 60-80 cents on the dollar. Basically retail value from early 2004 at best so far.. The reason I suspect is way too many fat rich real estate investors liquidated a ton of stuff at the top plus many others with open HELOC's looking to place money. We are just in the early innings. I suspect another 6-12 months before we really see the incredible deals as supply overwhelms demand just like in the distressed markets in the rust belt..