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

To: mishedlo who wrote (77098)	3/30/2008 2:22:55 PM
From: John Metcalf	Read Replies (1) \| Respond to of 116555

"For $97 you get to listen to real estate shill pitch crappy deals to a captive audience." That's the way I look at it. I would never get on the foreclosure tour bus; never listen to the pitch. And yet -- interested buyers and interested sellers engaging in mutual sniff is the first step toward a free market resolution of housing problems. With interest on both the buy and sell sides, and accommodative rates, all that remains is compromise on price. Of course, no one is willing to take the loss, weaken the balance sheet, and risk being taken out of the game. But compromise will happen eventually. When I was a child, in the fifties, my parents said that most of the rich people in our area were the ones who bought property cheaply during the depression and were able to hold it. In retrospect, I should have been more curious about the others....