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

To: SouthFloridaGuy who wrote (99718)	7/16/2009 6:41:15 AM
From: Dan3	Respond to of 116555

Re: You'd have to be a fool not to bite here. It's name your price and buyers can "make the market". Tulips are down a lot more from their highs than urban real estate - Just be patient, prices will bounce right back... :-) Seriously, there was a combination of demographics and rising incomes/opportunities for the lower classes that has led to a huge reduction in crime in urban areas making them fundamentally more desirable places to live. If unemployment stays high, trends in the quality of life in major urban areas will revert, the exodus from city centers will resume, and the general price trend will be closer to Detroit than Manhattan. Remember that new communications technologies are eliminating one of the main reasons for people to clump together in cities.

To: SouthFloridaGuy who wrote (99718)	7/18/2009 10:19:27 AM
From: semi_infinite	Read Replies (1) \| Respond to of 116555

While the spike in gasoline prices pricked the bubbles on the outskirts of major employment centers, the bubbles at the edges and the bubbles at the centered were reinforced by a cycle of move up buying from folks migrating towards the center and lack of affordability in the center forcing new buyers to inflate the outskirts. I think it's wishful thinking that one edge deflates while the center stays inflated. Ain't going to happen unless the Chinese re-patriot all the dollars rapidly into US RE.