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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (9650)	11/13/1997 8:19:00 PM
From: Mark Nelson	Read Replies (1) \| Respond to of 94695

Interesting news (again from Hong Kong): (from Goldman Sachs, no less) Default warning amid erosion in property values <clip> "The report said that at present mortgage rates, households spend up to 73 per cent of their monthly post-tax incomes on mortgage payments. It warned that if the mortgage rates were to increase to 15.7 per cent, payments would equal 100 per cent of post-tax incomes." <clip> scmp.com It also goes on to say that "one-third of outstanding mortgage loans taken out since May - worth $134 billion - could drop to zero or negative equity against a backdrop of rising interest rates and declining property values, raising the possibility of widespread loan defaults." ***************** This is starting to sound serious. <vb BWDIK> Onward.. Mark

To: Bonnie Bear who wrote (9650)	11/13/1997 8:20:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 94695

Hi Bonnie Please give me your near term target for the DOW...I just bought some OEX puts Dec 840's for portection but might add to the position if it warrants.. Thanks Jerry

To: Bonnie Bear who wrote (9650)	11/13/1997 10:12:00 PM
From: KM	Respond to of 94695

Bonnie: <<(Just a few more shortsales profits and I'll be able to pick up a slightly used silicon valley mansion at a foreclosure sale.... -g->> How is the real estate market going out there? Has the expected glut of home listings materialized yet? Are prices becoming more realistic?