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Nesgroup address: misc.invest.real-estate - Date & Time for the message: /

Author of the message: awouk@blackhole.nyx.net (arthur wouk)

Title of the message:
Re: FT: Owners offloading homes onto flooded market

Text of the message:
In article <BE55C1B6.5DD68%sufaud@hotmail.com>,
sufaud  <sufaud@hotmail.com> wrote:
:There are particular things at work that make generalizations unwise in
:property.
:
:The bulk of the property market can collapse, as indeed happened in the UK
:in the late 1980s and early 90s. But with the rich (the U.S.'s "New
:Aristocracy", favored by Bush's tax cuts) getting steadily richer, that part
:of the high-end market in broadest demand should hold steady or increase.
:Even thought the Middle Class is shrinking. (I don't mean the one-off
:palaces in Hollywood and on Long Island, but good Manhattan and Chelsea
:(London) row houses and apartments.)
:
:Also, so long as professional salaries hold steady, the best one- and
:two-bedroom rentals should hold up.
:
:But there is a bubble for sure. How these speculators get all that credit
:that later buries them I don't know. My bank -- even knowing I have a lot of



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