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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (84432)	8/10/2007 11:18:25 AM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

I don't know if they fear the credit crunch or a 30-40% drop in NY area home prices the most.. just heard a guy from Manhattan Mortgage Co, say guess what? i'll take manhattan! he was absolutely convinced the credit crunch will not affect prices there

To: John Vosilla who wrote (84432)	8/10/2007 11:20:48 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Hey, don't worry about those ivory-tower types who might lose money. For every one of them who is losing money, there's a lawyer or work-out expert somewhere cleaning up on fees for straightening out messes. After the S&L debacle, I knew many lawyers who completely switched whatever their specialty was before to working on the new problems. After the S&L debacle and during and after the tech boom, some DC law firms were opening offices out in the suburbs to catch all the business opportunities that arose. For every problem, there is a guy waiting to fix it for you...for a price. Ever heard of the Attorney Full Employment Act? This rule seems to grow exponentially in importance as the years go by. I guess I can say this applies in my area, because we have more lawyers-per-square-mile than just about any other place in the world, except New York. <<GG>>