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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 (99225)	1/7/2008 12:45:09 PM
From: Smiling Bob	Read Replies (2) \| Respond to of 306849

They said people are leaving in tears after an Obama rally. He's an incredible speaker and offers inspiration to many. I know I was awestruck by his Dem. convention speech. Considering how despondent America is thanks to our current commander in nothing, Obama could do a world of good.

To: John Vosilla who wrote (99225)	1/7/2008 2:22:33 PM
From: GST	Read Replies (1) \| Respond to of 306849

John: I want to clear something up -- I don't doubt that there are opportunities in down markets -- bargains. But I also know that people chasing bargains can get badly burned if they borrow a lot of money and end up with bad timing or bad property or bad prices. The posts I responded to on the credit bubble thread had to do with the idea that all markets are ripe for the taking -- and they are not. This market slide can easily take 3 to 5 years and perhaps 10 years to play out. When somebody calls me out and then posts absolute rubbish about the rate of foreclosures in a market like Danville, you have to understand that this is just pure misinformed BS of the worst kind. It is just beyond silly. The RE market is going down -- has gone down -- and I think will go down. My take is that it is still early days and with lots of leverage you take on a ton of risk. Somebody will pick the bottom -- from where I sit it is not here today. And in Danville, where you might actually want to live and own a house, it has only just begun. There could be a dozen foreclosures in the works, or maybe even two or three dozen. But when somebody says it is 17,000 -- well, it is beyond a farce.