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Re: Half a point?
Old 03-08-2006, 02:15 PM   #21
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Re: Half a point?

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Originally Posted by brewer12345
Yeah, its even nuttier in Boston. There is nowhere to build, so tehy take big, old houses and chop them into 3 or 4 condos. The condos together sell for a LOT more than the house did.
I get a kick out of how it seems they keep filling in the harbor and building stuff further and further out in what used to be water.

I saw some old paintings of the 'boston waterfront' from about the late 1700's/early 1800's. The water came up to where faneuil hall is now.
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Re: Half a point?
Old 03-08-2006, 03:27 PM   #22
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Re: Half a point?

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Originally Posted by brewer12345
There has been huge overbuilding/conversion of condos for a long time and I suspect that when the commode hits the windmill, they will go to a far steeper discount than SFRs.
Bingo. Welcome to Hawaii...
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Re: Half a point?
Old 03-08-2006, 03:41 PM   #23
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Re: Half a point?

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Bingo.* Welcome to Hawaii...
Bingo, welcome toprobably the top 50 (100? 150?) RE markets. When the problems start, they will not be confined to just a few areas.
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Re: Half a point?
Old 03-08-2006, 04:25 PM   #24
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Re: Half a point?

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Originally Posted by Cute n' Fuzzy Bunny
But people standing around with plenty of money in their pockets could end up VERY happy when they start picking up the foreclosures...
I'm already seeing some foreclosures, but they're on crappy houses that nobody really wants.
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Re: Half a point?
Old 03-08-2006, 04:27 PM   #25
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Re: Half a point?

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I'm already seeing some foreclosures, but they're on crappy houses that nobody really wants.
Patience, grasshopper.
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Re: Half a point?
Old 03-08-2006, 05:46 PM   #26
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Re: Half a point?

My mom just called about the house down the street from her that is going into foreclosure. I'm waiting for the half-off sale, myself.
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Re: Half a point?
Old 03-08-2006, 07:35 PM   #27
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Re: Half a point?

Remember the good ol' days when you just couldn't lose with real estate? They weren't too far back.
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Re: Half a point?
Old 03-08-2006, 07:40 PM   #28
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Re: Half a point?

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Originally Posted by Cute n' Fuzzy Bunny
But people standing around with plenty of money in their pockets could end up VERY happy when they start picking up the foreclosures...
EXACTLY what I was going to say. Ever since RE went crazy here, I've been waiting for the overleveraged and panicked to start selling off. Getting closer all the time
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