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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (27752)	4/28/1998 9:07:00 AM
From: Mike M2	Read Replies (3) \| Respond to of 132070

Skeeter, well put. I pointed out to real estate bubbles participants -baby brats buying condos as investments that real estate cannot continue to grow faster than incomes indefinitely. most didn't seem concerned "all i know is it keeps going up" was the standard response- sound familiar? Some condo horror stories I know of condos that sold for 110k in 1987 now sell for the low 30's . I know a woman who paid 55k for a condo in 1975 and recently sold for low 30's. The tax law changes were a significant factor but it was irrational exuberance on a small scale. The present stock mkt is irrational exhuberance on an unprecedented scale. People often tell me "Mike you have been saying this for a long time now and the mkt keeps going up" It doesn't register with most people I don't know why because it seems so obvious to me. Do I ever consider the possibility that I am wrong Not anymore I realize that few will get out in time so it is much better to be "earlie" than late. Mike the forever bear