Posted by David Krulac on May 08, 2006 at 18:06:08:
to just about everybody except Bill Gates and the Sultan of Burnei
Warren Buffet Bubble Warning… - Posted by Real Estate Day Trader
Posted by Real Estate Day Trader on May 08, 2006 at 13:56:54:
For those here that also day trade real estate, now is the time to start shorting your florida condo positions…
http://money.cnn.com/2006/05/05/news/newsmakers/buffett_050606/index.htm?cnn=yes
What we see in our residential brokerage business [HomeServices of America, the nation’s second-largest realtor] is a slowdown everyplace, most dramatically in the formerly hottest markets. [Buffett singled out Dade and Broward counties in Florida as an area that has experienced a rise in unsold inventory and a stagnation in price.] The day traders of the Internet moved into trading condos, and that kind a speculation can produce a market that can move in a big way. You can get real discontinuities. We’ve had a real bubble to some degree. I would be surprised if there aren’t some significant downward adjustments, especially in the higher end of the housing market."
Re: Financially speaking - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on May 08, 2006 at 16:06:39:
Warren, and I live in somewhat different worlds.