[Shotimes] Re: (OT) More UAW workers bankrupt - Detroit news

[Mark Nunnally]

speaking of real estate...kevin, how did you guys end up with katrina?  are you back home?  what's the area like?

mark


-----Original Message-----
From: Kevin & Cheryl Airth <clubairth@peoplepc.com>
Sent: Sep 21, 2005 9:47 AM
To: SHO Times <shotimes@autox.team.net>
Subject: Re: [Shotimes] Re: (OT) More UAW workers bankrupt - Detroit   news

Most likely not. It's very interesting to study bubbles of varies kinds. If
you look at the most extreme real estate bubble, at least in modern times,
that would be Japan and Tokyo especially back in the late 1980's. Does
anyone remember the 100 year multi-generational mortgages that were popular
at the peak of the Japanese real estate boom? Of course that boom crashed as
ALL booms do eventually. But what happened was not a total collapse because
people live in real estate! The stock market, tulip bulbs or collectables of
any kind will and can drop to almost nothing because they are non-essential
items. But what happened in Japan and what I predict will happen in the US
is a slowing and stagnating real estate market. Prices might drop 10-20% at
most but what will happen is that sales activity will slow to a very low
level. In fact Tokyo and Japan are still considered to be in a recession 20+
or so years after the peak of the real estate boom!!
.
.



> It isn't only in Ford/GM country.  It is the entire US.  I have never seen
> so much real estate for sale and now it is becoming more common to see low
> end neighborhoods with up to 30% of the houses boarded up and high end
> neighborhoods with houses that are on the market for a couple years.
> I predict a total economic collapse within the next ten years.
>
> Jim
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