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Old 08-25-2005, 09:17 AM   #27
KingPriest2 KingPriest2 is offline
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Join Date: Oct 2002
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Quote:
Originally Posted by Amnorix
People said tech stocks were a bubble for a long, long time before it popped.

The only way we'll know if we're in a bubble NOW is to wait about 3-5 years, not 6-9 months.

There are multiple danger signs in the Boston housing market. Every amateur in the world is going into real estate. It's hard to fathom that it can be infinitely perpetuated. Of course, many of us were thinking the market was overheated 2 years ago, and so far there's been zero sign that we were right.

I literally remember speaking with a friend around 2000. He was saying how he and his wife were thinking of buying a house in 1997 or so, but things were a little overheated, so they waited. Same thing in 1998. Same thing in 1999. Finally, in 2000, after prices were MUCH higher than they had been in 1997, they decided they couldn't wait any longer and bought a house.

And here we are, FIVE YEARS after that, and still it continues.

So who knows. Until it pops, it's not a bubble.
When I started in the mortgage industry in October of 200 Rates were at 7.5 on a 30 year mortgage now we are at 5.75. So we still HAVE A LONG WAY TO GO ON RATES GOING U.

The thing that people don't realize is 9/11 kept it going . Rates were coming down in Jan of 2001 and they were dow for about 6 months or so. They were going back up before 9/11 and they have been down ever since.
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