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GM and Ford Get Junked -- Red Hot Real Estate Market is a Bubble !
Nightly Business Report via NPR ^ | 5/5/2005 | Paul Kangas and other NBR Staff

Posted on 05/05/2005 7:40:07 PM PDT by ex-Texan

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To: tyen

Hardworking people.


61 posted on 05/06/2005 9:02:52 AM PDT by durasell (Friends are so alarming, My lover's never charming...)
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To: macaroona
You should question Kekorian's motives before you drop a dime into GM. Prior to his announcement that he would buy more shares at $31, he already held 22 million which he acquired between $26-27. After his little announcement, the stock shoots up to near his "offer" price.

The 84 year old guy just made about $66 million dollars on his "offer. Nice work if you can get it.

62 posted on 05/06/2005 9:07:23 AM PDT by ContemptofCourt
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To: ContemptofCourt

He's an 84 year old guy who is a bazillionaire and futzing around with the stock market is the best thing he can think of to do with what time remains to him.


63 posted on 05/06/2005 9:09:36 AM PDT by durasell (Friends are so alarming, My lover's never charming...)
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To: wagglebee
The real estate boom we are experiencing now is due in part to low interest rates, but it is also due to the MILLIONS of baby boomers who have a lot of disposable income and are looking for second homes, they view real estate as an investment that they can enjoy, not a "get rich quick" scheme.

What a load of crap. Look at the numbers...INVESTORS are buying up this property.

Even more telling is the financing tools they are using....ARMs with IO options....these people ain't hanging around for the long term.

You want a good deal on a house...wait 3-5 years when these ARMS start to really put a hurt on these investors and they start dumping property. It will be a great time to have cash and move in.

64 posted on 05/06/2005 9:11:00 AM PDT by ContemptofCourt
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To: datura
Development of raw land, however, is NOT.

Unless you take inflated construction costs into consideration....in our area, those figures are over twice what they would have been even three years ago.

65 posted on 05/06/2005 9:16:10 AM PDT by ErnBatavia (I'm pleased that my banishment was reversed on appeal)
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To: durasell
When it comes to real estate, those involved are ruthless beyond all imagining.

Yup. I'm a RE attorney in DC. The people who play the RE game at the high ends would step over their grandmother to get a piece of a profitable transaction.

Very, very few people realize just what the RE investment game is like. Owning a couple of investment properties in Podunk, Idaho, does not put you in even the same solar system as these people.

66 posted on 05/06/2005 9:26:11 AM PDT by Modernman ("Work is the curse of the drinking classes." -Oscar Wilde)
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To: Modernman

...though they do tend to have very nice beach houses and wonderful taste in art.


67 posted on 05/06/2005 9:27:57 AM PDT by durasell (Friends are so alarming, My lover's never charming...)
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To: durasell
...though they do tend to have very nice beach houses and wonderful taste in art.

Oh, yeah. A person can be suave and debonaire in their personal life while practicing business in a manner that would make a swarm of locusts look good in comparison.

68 posted on 05/06/2005 9:30:30 AM PDT by Modernman ("Work is the curse of the drinking classes." -Oscar Wilde)
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To: durasell; montag813

I know you guys will laugh, but houses in F--king BAY RIDGE (and NOT just the Shore Road area) are going for $600,000+ right now. In Bensonhurst and Gravesend, the Chinese are paying CASH for $450,000 for tiny, single-family, row houses.


69 posted on 05/06/2005 10:20:24 AM PDT by Clemenza (I am NOT A NUMBER, I am a FREE MAN!!!)
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To: ex-Texan

Where we are in Burbank, it keeps going up about 20% annually minimum


70 posted on 05/06/2005 12:57:22 PM PDT by television is just wrong (http://heidisblogs.blogspot.com/)
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To: xzins
We're getting a couple thousand square feet coming in at about 125,000....at these rates, that's about 750 per month (add on taxes + insurance) at 6%. That's pretty cheap housing.

Found our current house at 3,100 sq.ft. Original asking price was $287K. The property had sat vacant for more than three years. Wife talked the price down to $210K. Rolled over our former house which we bought for $76K and sold it for $124K. We have a 15 year mortgage @ a 4.9% APR. Do the math on that one! ;-)


71 posted on 05/06/2005 2:41:36 PM PDT by rdb3 (To the world, you're one person. To one person, you may be the world.)
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To: rdb3

How much would this house in Rumson NJ cost you where you live?

Scroll down

http://shorebubble.blogspot.com/


72 posted on 05/06/2005 7:43:57 PM PDT by junkbond
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To: rdb3

$70 a square foot; and $1650. a month (+taxes & insurance)

Ya done good.

We refinanced to 15 years last year. It was too good a deal.


73 posted on 05/06/2005 9:51:28 PM PDT by xzins (Retired Army Chaplain and Proud of It!)
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To: ex-Texan

This one is unbelievable !! All I can say is WHOA!

http://liveinmississippi.com/property_detail.asp?mls=222548&referrer=search

Be sure to look at photos! Somebody Please, tell me what is wrong with it! We are moving from Alexandria VA (houses are in 600-800 thousand range) to a job 40 minutes away from this place.


74 posted on 05/08/2005 4:26:22 PM PDT by Recall
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To: Recall

It's in Mississippi.

Otherwise, WHOA!!

We live in Northern VA too.


75 posted on 05/10/2005 7:39:05 PM PDT by agrarianlady
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