tag:blogger.com,1999:blog-7588496932754350322.post5725222009183747525..comments2023-09-10T03:39:48.166-07:00Comments on Alberta Bubble: Who could have thought this? Suncor making lossUnknownnoreply@blogger.comBlogger134125tag:blogger.com,1999:blog-7588496932754350322.post-25177992404837614522009-01-22T22:15:00.000-08:002009-01-22T22:15:00.000-08:00try this again.http://canwest.a.mms.mavenapps.net/...try this again.<BR/><BR/><BR/>http://<BR/>canwest.a.mms.mavenapps.net<BR/>/mms/rt/1/site/canwest-globalcalgary-pub01-<BR/>live/current/launch.html?maven_playerId=<BR/>globalcalgaryallvideo&maven_<BR/>referralPlaylistId=<BR/>445304b0f8d8b020cb40d676614<BR/>f3b0da64cdf66&maven_<BR/>referralObject=3459403houzihttps://www.blogger.com/profile/10255894892800992879noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-25923038365517552672009-01-22T22:09:00.000-08:002009-01-22T22:09:00.000-08:00check out this clip from global tv news calgary.un...check out this clip from global tv news calgary.<BR/><BR/>unbelievable!<BR/><BR/>http://canwest.a.mms.mavenapps.net/mms/rt/1/site/canwest-globalcalgary-pub01-live/current/launch.html?maven_playerId=globalcalgaryallvideo&maven_referralPlaylistId=445304b0f8d8b020cb40d676614f3b0da64cdf66&maven_referralObject=3459403houzihttps://www.blogger.com/profile/10255894892800992879noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-3634640800799758062009-01-22T21:33:00.000-08:002009-01-22T21:33:00.000-08:00holy moly more bad newssuncor is now going to layo...holy moly more bad news<BR/>suncor is now going to layoff all flint (FES) employees from there maintanance budget and from the plant 57 (MVU) expansion project<BR/>(another 1,500 employees..est)<BR/><BR/>also cutbacks at the steepbank mine which employs 800 lockerbie employees could be put on hold status<BR/><BR/><BR/>man this is all happening so fastsquidly77https://www.blogger.com/profile/05932628180799650933noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-10114476481640342432009-01-22T21:24:00.000-08:002009-01-22T21:24:00.000-08:00had another phone call from a friend up in the tar...had another phone call from a friend up in the tar pits<BR/>apparently syncrude (COS.UN) are in talks right now and the topic is the possible cancellation of the SERP (sulphur emission reduction plant) which currently employs 3,800 people<BR/>that would make for 6,100 jobs lost in 2 days at the pits<BR/>he also tells me that hwy 63 south bound is a massive traffic jam as every body is getting outta dodge just as quick as they can <BR/>stay tuned..squidly77https://www.blogger.com/profile/05932628180799650933noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-89266138602103277672009-01-22T21:20:00.000-08:002009-01-22T21:20:00.000-08:00This comment has been removed by the author.squidly77https://www.blogger.com/profile/05932628180799650933noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-74490487770839917932009-01-22T18:34:00.000-08:002009-01-22T18:34:00.000-08:00Fort Mac will look like an empty trailer park soon...Fort Mac will look like an empty trailer park soon and Edmonton is returning to Deadmonton.Brenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-41806424571506084362009-01-22T18:28:00.000-08:002009-01-22T18:28:00.000-08:00I contract to Nortel or I should say I used to.The...I contract to Nortel or I should say I used to.<BR/>The agencies, pimps, or middleman that you had to go through when contracting are folding like bad hands.Brenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-45184764651047309662009-01-22T18:22:00.000-08:002009-01-22T18:22:00.000-08:00Spar Aero (L3 Communications) closed shop in Edmon...Spar Aero (L3 Communications) closed shop in Edmonton today. <BR/>200 goneBrenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-30341066609951074812009-01-22T18:17:00.000-08:002009-01-22T18:17:00.000-08:00They had another Realtor "News" clip on 630 CHED n...They had another Realtor "News" clip on 630 CHED news today here in Edmonton, as usual flogging their overpriced product and trying to convince the easily suckered new home buyer into buying at what are still historically high price levels.<BR/><BR/>Mark Paris from the Edmonton Realtors Association on the lower interest rates and his quotes from todays 630 CHED news.<BR/><BR/>- It's a buyers Dream right now.<BR/>- Absolutely tremendous value in our marketplace right now<BR/>- I think this is probably one of the best buying opportunities we have seen in years and years here in Edmonton.<BR/><BR/><BR/>Who is he trying to fool??? House prices are still 2 even 3 times more expensive than they were only 6 years ago and he is telling the public that there is tremendous value in the Market Place????Marvinmeehttps://www.blogger.com/profile/07214540255903096670noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-41715361917593668552009-01-22T16:59:00.000-08:002009-01-22T16:59:00.000-08:00these guys are getting close to..TD adds another $...these guys are getting close to..<BR/><A HREF="http://ctv2.theglobeandmail.com/servlet/story/RTGAM.20090122.wtd0122/business/Business/businessBN/ctv-business" REL="nofollow" TITLE="">TD adds another $200-million in preferred shares</A><BR/>i expect a major merger amongst the banks in the coming months<BR/>all there stock values are -40% yoysquidly77https://www.blogger.com/profile/05932628180799650933noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-60791815887326597322009-01-22T16:40:00.000-08:002009-01-22T16:40:00.000-08:00-Seems our financial system is quickly approaching...-<BR/>Seems our financial system is quickly approaching a crisis of its own.<BR/><BR/><I>"Governments around the world want all the banks to be lending more money but at the same time regulators are pushing for your Tier 1 capital ratios to be bigger and leverage lower. It is a little bit of a tricky problem to try and do both at the same time," he says.<BR/><BR/>Put simply, bankers see an impasse approaching in the coming months as companies hit the maximum on so-called revolver lines of bank credit and reach the point they would normally turn to bond markets or possibly issue equity. <BR/><BR/>"Today the fixed income and equity markets are to a large extent closed [for many companies.] There are tiny windows and you have to hit ‘em fast and get lucky and you’ve got to be the right company. The natural progression from bank loan to fixed income to equity is not there."</I><BR/><BR/><A HREF="http://www.edmontonjournal.com/business/fp/Ottawa+bank+officials+free+flowing+talks/1207542/story.html" REL="nofollow">Ottawa, bank officials in free-flowing talks</A><BR/><BR/>First question: Considering the above what is going to happen when mortgage defaults start rising on top of that?<BR/><BR/>Second question: How deeply is our government going to get involved in the banking system?<BR/>(see <A HREF="http://albertabubble.blogspot.com/2009/01/who-could-have-thought-this-suncor.html?showComment=1232666580000#c7236763957973080848" REL="nofollow">my previous post</A> on why it shouldn't)<BR/><BR/>Third question: Will it be indeed a short recession in the view of the information we have?<BR/><BR/>Fourth question: What effect all this will have on R/E, especially in Alberta?<BR/>-BADhttps://www.blogger.com/profile/08896288573355012563noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-4520377891245177612009-01-22T15:23:00.001-08:002009-01-22T15:23:00.001-08:00RJT...first time I have ever heard a eulogy before...RJT...first time I have ever heard a eulogy before the patient has died. If only one out of ten folks who read this had paid attention...crthttps://www.blogger.com/profile/11090290749972573771noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-72367639579730808482009-01-22T15:23:00.000-08:002009-01-22T15:23:00.000-08:00-For the interested:Why The Government Should Get ...-<BR/>For the interested:<BR/><BR/><A HREF="http://www.forbes.com/2009/01/22/citigroup-banking-crisis-ent-law-cx_kw_0122whartongovernmentintervention.html" REL="nofollow">Why The Government Should Get Out Of Banking</A><BR/>-BADhttps://www.blogger.com/profile/08896288573355012563noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-43839813714579961272009-01-22T15:07:00.000-08:002009-01-22T15:07:00.000-08:00at the time of that post 90% of calgarians were in...at the time of that post 90% of calgarians were in bubble land<BR/>people thought that the boom would last for ever and house prices were going to the moon and beyond<BR/><BR/>at that time i thought that the housing bubble was going to burst in 07 then all that sub-crime crap began appearing enable-ling people to maintain the boom for a further 18 months<BR/><BR/>now we are in a period of time when it all unravels exactly opposite to the way it was built<BR/><BR/>the easy credit is gone and the layoffs have begun home sales will grind to an eventual halt then prices will plummet and as suddenly as it began it was over<BR/><BR/>thanks to people like rob gloria and bearclaw we will have a permanent record that chronicles the boom from the beginning to the end and all parts in betweensquidly77https://www.blogger.com/profile/05932628180799650933noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-34336630777560234902009-01-22T14:16:00.000-08:002009-01-22T14:16:00.000-08:00Time for a blast from the past.http://tinyurl.com/...Time for a blast from the past.<BR/><BR/>http://tinyurl.com/dm9xyb<BR/><BR/>This post was from Dec 10, 2006: 6 months before the peak of the Calgary market.<BR/><BR/>Shifting Supply Curve and the Illusion of Permanence<BR/><BR/>As we head deeper into December, the housing market tends to slow down. Therefore, it is really difficult to get a gauge as to what is happening. Most of the stories in the media seem as meaningless as ever. I find this a good time to sit back and take the time to really think about things from a big picture perspective. The contrarian inside of me is reminding me to continually question my own assumptions. What have I been right about over the past few months? What have I missed? There are lots of naysayers out there, people who like to tell me I’m essentially on crack. Are they seeing something that I’m not?<BR/><BR/>When I started this blog back in May, we were essentially at the height of the buying frenzy in Calgary. I saw family members, friends, and co-workers acting with absolute hysteria about houses. Some were buying houses sight unseen. Others were agreeing to purchase a pre-construction townhouse, without having a contract for the final price. Most were waiving the usual inspection conditions that you would think are quite necessary when making a large purchase. Many were actively engaged in bidding wars over what were essentially sub-par homes in not very desirable areas.<BR/><BR/>Being a student of both economics and history, it was fascinating to me to watch this behavior in light of what I was witnessing in the United States, which at the time was the start of a Real Estate meltdown after a long period of “irrational exuberance.” I travel lots to the US and work with many Americans, so I saw a eerie similarity to what people were starting to say in Calgary, and all the BS that I had heard over the previous year from friends and co-workers down in Florida, Arizona, and other spots. “I must buy now or be priced out forever”, “they’re not making any more land”, “Calgary will be the next Toronto/Vancouver…”, just like, “Florida will be the next California”, “California will be the next Europe”, etc. “The old rules don’t apply, historical valuation methods are meaningless”, “Price/Income ratios don’t matter anymore, Price/Rent ratios are irrelevant”, “RE only goes up, so it doesn’t matter what you pay”. <BR/><BR/>Turns out that every financial mania in history has ended quite badly. By May of 2006, we were only starting to see that occur in many housing markets in the US. When talking to people in Calgary however, I realized that most people here didn’t even know that the US had a housing bonanza over the past few years, never mind that they didn’t know it was at the point of busting. Most people believed that the boom we were experiencing in Calgary was unique, do to all of the unusual local factors at play here.<BR/><BR/>I started this blog as a way of trying to connect some of the dots that I saw. The main ones being that housing booms were occurring world-wide, enabled at first by a dramatic drop in interest rates and increased ability to borrow, but then continued as a mania developed and people were willing to use greater and greater leverage to buy into this “low risk, high reward investment.” As more and more people piled in, demand outstripped supply, and prices started rising at rates far above historical norms. When people started witnessing this high level of appreciation, speculators started piling in, effectively driving up demand further increasing the gap between supply.<BR/><BR/>In a market like housing, supply is always much slower to respond than demand, for all of the obvious reasons. It takes time, people, and large financing to build an extra home. But demand for that extra home can increase over-night.<BR/><BR/>Nobody would participate in a financial mania without a solid story, to help them believe that the prices they were paying were rational, and not a result of temporary conditions. In Calgary, we had the perfect such story, due to the booming energy sector. Since oil prices bottomed after the Asian crisis in the late 1990s, they have been on essentially a 8 year bull run. At first, most analysts thought that the price rise was fundamental but perhaps temporary. When oil hit $35, many analysts said “it might drop, but it won’t go back to 25”. When it hit $40, analysts said, “it might drop, but won’t again go below $30”. When it hit $50, the analysts told us that “it might drop, but won’t again go below $40.” When it hit $70, the analysts told us that there is no way it will drop ever again below $50, and that likely it was going to $100 and beyond.<BR/><BR/>My question is this, what has changed in the world so much since 2004, when oil was below $40, that has caused the new “floor” to be $50?<BR/><BR/>For the record, I am not an oil bear. For all of the reasons discussed here and through my own research, I am a believer that over the long run, oil will continue to be an important resource for the world, which will support the energy sector world-wide. However, I also believed this in 2004 and in 1998, when oil prices were much lower. This is why when people tell me that the price can’t go below $50, I really think they are wrong. Why can’t it? 50 is just a nice even number, but that level is meaningless.<BR/><BR/>I think the reason people give us these artificial levels as “floors”, is because of the perception of permanence. It is difficult for us as human beings to imagine a future that is very different from the present. Think about past situations. When the world was in recession, it felt like the recession would never end. When the world has been booming as it has the last 5 years, it feels like the boom will never end. <BR/><BR/>Students of economic history will know that at the latter stages of booms, players are willing to take on greater and greater risks, because the last recession has essentially been wiped from memory, and they become convinced that we are now in a new economic era, where it is all high reward and very low/no risk. This unfortunately is a big part of what contributes to business cycles. Near the end of cycles, people take larger and larger risks, while believing that the risks are getting smaller and smaller. How many times have you heard “RE may not appreciate at the same rate as the past few years, but it will at least flatten out and grow slowly; it never or rarely goes down in value.”<BR/><BR/>The flip side to this is that recessions are generally prolonged by the opposite behavior. People are willing to take less risk that they probably should. It is during these times when asset values tend to drop below long term “fundamental” value. Not only are people willing to borrow less, but banks and other financiers are less willing to lend, due to the recent memory of past losses.<BR/><BR/>In Calgary, it seems to me that many people have bought into the notion that we are in a new economic era, and that the current boom will last for a very long time. One girl at work told me that it will last for the next 30 years. I asked her why she thought that. She just responded that “that is what everyone is saying.” How’s that for sound economic analysis!<BR/><BR/>Because the economy is currently so strong in Calgary, people become wedded to the idea that this situation is a permanent one. In the housing market, we’ve seen prices stall since about the summer. Why? From what I can tell, demand remains very robust, but new supply has essentially caught up with it. Housing starts broke that record this year; a record that has stood since the 1970s. Of course developers have responded to high prices and increased building capacity. This has taken time, and was not without it’s headaches, but it has been accomplished.<BR/><BR/>Some people on this blog have derided some of the “flippers” out there. I actually think that these speculators are good for the long run prospects of the market. In an economic sense, what they have done is transferred some of the risk of new construction from the developers to themselves. This has allowed more houses to be built than otherwise would have had they not been part of the market. Sure, in the short run, it has contributed to the run-up in prices, as demand was larger than it would have been. But over the long term, it is this extra construction that has helped supply levels ramp up, and eventually this will bring the market quicker towards a sustainable equilibrium when builders can produce enough homes per year that are wanted by end-users of all income types.<BR/><BR/>Every housing markets needs to create homes affordable to all income levels. It is not sustainable that the market is unaffordable to vast segments of our society, including people who work in middle-class professions like teachers, nurses, policemen…<BR/>I’ve run into many relatively new Calgarians over the past few months who have told me they are thinking about going back to where they came from, whether it be Toronto, Saskatchewan, or elsewhere. We have a huge labor shortage in the city, but there is no hope of filling the lower end of the job spectrum at this time due to the housing affordability issue. Lots of bulls out there are convinced that everyone in Calgary earns 100K+ and gets huge bonuses and stock options. Sure there are lots of these people, but they are a minority. Many others in the city, had they not bought a home prior to 2006, have essentially been completely priced out of the market (with traditional financing). This is an issue for the long run sustainability of these price levels.<BR/><BR/>An analogous situation to this is Florida, where for many years the population was growing substantially. Over the past 3-4 years, people started to believe that this was going to continue forever, and that was a major justification for the huge price increases during the RE boom. The problem was that once prices got to such a high level, the migration rate slowed dramatically, and many younger families started leaving the state. This was happening in the background while building was ramping up. For the first time in many years, many school districts started reported drops in enrollment this year in Florida. What happened to all the people that were supposed to continue migrating to Florida justifying ever increasing housing prices? Turns out that high housing prices started to drive people from the State, and prevent others from moving there. I think this is a very real possibility for Calgary. We need people to come here to fill all of the jobs and also to continue to support the housing market, however current housing prices are starting to give many people second thoughts about moving here.<BR/><BR/>Most “normal” cities have a wide variety of neighborhoods and prices for homes. Usually the far flung suburbs are quite cheap, and allow for people who have good steady jobs to buy a home at a price that’s affordable to them. I think what’s happened in Calgary is that even the “cheap” areas have become extremely expensive. This is likely to be a deterrent for many people moving to the city. This is not New York or London or California. Nobody comes to Calgary for the “culture” or weather. They come to have a good life, good job or business, and have a better standard of living. If that standard of living advantage is reduced or erased by the high cost of living, I am not convinced that the projections of massive in-migration can be accomplished over the near term. There will always be an incentive for the oil executive or petroleum engineer to move here for a very high salary, but the city also needs people to come and be nurses, teachers, and Tim Horton’s workers, and it is these people that will probably choose to stay elsewhere.<BR/><BR/>Where are we now? Are we at an inflection point in the market? These are the types of questions that I’ve been trying to figure out, and the evidence is largely mixed. I really believe that a lot will depend on the world economy over the next year. When I started talking about the possibility of the US led world recession back in May, most people thought I was smoking something really nice and they wanted some of it. Now people are starting to see that this is a real possibility. Will the next recession be very short lived (aka 2001) or will it be long and protracted, like most in history. What will happen to oil demand and prices during the next recession? I don’t know, but I can tell you I wouldn’t be betting on some magical $50 floor price. The last time I checked, oil was still a commodity, and commodities have historically performed quite poorly during period of slowing or negative economic growth.<BR/><BR/>I guess in summary what I’m trying to say is that there is lots of risk to the Calgary housing market out there, but most people feel that there is little to no risk. I think 2007 will be an interesting year.RJThttps://www.blogger.com/profile/16895839672897312060noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-49903174722268644762009-01-22T14:15:00.000-08:002009-01-22T14:15:00.000-08:00they are coming hard and fast nowSpar lays off 185...they are coming hard and fast now<BR/><A HREF="http://www.calgaryherald.com/Spar+lays+Edmonton/1207153/story.html" REL="nofollow" TITLE="">Spar lays off 185 in Edmonton</A>squidly77https://www.blogger.com/profile/05932628180799650933noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-24847044845400976222009-01-22T13:59:00.000-08:002009-01-22T13:59:00.000-08:00Buzz Hargrove was on CBC news last night.He took p...Buzz Hargrove was on CBC news last night.<BR/>He took part in a mock presentation along with a few other interest groups grovelling to the Dragons for a hand out.<BR/><BR/>Buzz pleaded that govt should give our guys $$$ and send foreign auto makers packing to protect "our" industry.<BR/>The Dragons didn't seem to agree.<BR/><BR/>My mind flipped back to the early 70's when the big 3 pretty much monopolized the game and spewed out inferior crap.<BR/>They've had almost 50 yrs to get it right... and they still can't build reliable vehicles.<BR/><BR/>For what it's worth after buying a slew of imports over the yrs,<BR/>I broke down and bought a Dodge cargo van this past summer.<BR/>( hey, I had to get them damn squirrel supplies to the bunker somehow!)<BR/><BR/>Hope I'm not going to be the greater fool if our auto industry fails.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-15858364173310612632009-01-22T13:37:00.000-08:002009-01-22T13:37:00.000-08:00Great to see all the red necks here behind their k...Great to see all the red necks here behind their keyboards at all hours of the day!!!<BR/><BR/>Aren't you cow boys all working the oil sands or you all got laid off?<BR/><BR/>Looks like Alberta is done big time.<BR/><BR/>Keep freezin' in your prairie tundra while your crap homes go down in value $500 daily!!!!<BR/><BR/><BR/>Alberta advantage?<BR/><BR/><BR/><BR/>LOL!!!!Anonymoushttps://www.blogger.com/profile/17651151430675298771noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-89133097157371944752009-01-22T13:23:00.000-08:002009-01-22T13:23:00.000-08:00Vanman,Great tips for adjusting & setting goal...Vanman,<BR/>Great tips for adjusting & setting goals in the new reality.<BR/><BR/>It's really amazing the "extras" people don't really need and the best part is the regained control and freedom.<BR/><BR/>baby steps!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-30042006814921809382009-01-22T13:21:00.000-08:002009-01-22T13:21:00.000-08:00I love how all the bubble heads say that people on...I love how all the bubble heads say that people on the blogs are poor because they don't like inflated prices.<BR/><BR/>I believe a lot of the bubble heads thought they were rich on credit.vanmanhttps://www.blogger.com/profile/15367498672798335326noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-7235673474429596252009-01-22T13:11:00.000-08:002009-01-22T13:11:00.000-08:0043 seats..now all the feeder industries will be af...43 seats..<BR/>now all the feeder industries will be affected from bus drivers to the cooks and cleaners on the camps<BR/>the gas stations between edm and ft mac the restaurants and the consumer goods people<BR/><BR/>its must be hell up there right nowsquidly77https://www.blogger.com/profile/05932628180799650933noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-31530461819762104852009-01-22T13:05:00.000-08:002009-01-22T13:05:00.000-08:00Sqid...do you know how many seats are on a bus? I ...Sqid...do you know how many seats are on a bus? I was just trying to wrap my mind around this as it's gonna be one long funeral type parade on 63crthttps://www.blogger.com/profile/11090290749972573771noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-55497102697435450722009-01-22T12:59:00.001-08:002009-01-22T12:59:00.001-08:00just got off the phone with a friend up at the pit...just got off the phone with a friend up at the pits he told me that between 1,500 and 2,300 have just been laid off from flint (FES)..i didnt even know that they had that many employed up there<BR/>he also says that they have buses lined up for about a milesquidly77https://www.blogger.com/profile/05932628180799650933noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-27262524403363960242009-01-22T12:59:00.000-08:002009-01-22T12:59:00.000-08:00@Caroica Canuck...Man that link to the realtor who...@Caroica Canuck...<BR/><BR/>Man that link to the realtor who can't afford his benz is HILARIOUS.<BR/><BR/>That was so funny, thanks for the link!<BR/><BR/>I posted this a while back...uhm 1.5 years ago in late 2007 but..<BR/><BR/>I was on a business trip to san fran and was flying back to Edmonton and sat to this realtor next to me.<BR/><BR/>He couldn't believe how I could get a high rise riverview apt (at the time) in downtown for 1,000 including utilities and underground parking and about 800 sq ft.<BR/><BR/>He told me how prices were going to go up up up and said that I'd be calling him in 6 months to buy something.<BR/><BR/>Unbelieveable! I told him the markets are going to tank by summer of 2008 and he laughed and said all my research was not sound. While his research of "being in the moment", selling property suggested to him that there's a lot of money to be made in the coming years!<BR/><BR/>I look back and I should've agreed...look how much EXTRA money I have not buying a house then.vanmanhttps://www.blogger.com/profile/15367498672798335326noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-68474256839056203662009-01-22T12:55:00.000-08:002009-01-22T12:55:00.000-08:00Atzi... great information...everyone who is dealin...Atzi... great information...everyone who is dealing with a realtor should know this stuff. The great thing about an insightfull tip like this on Bubble blog is that we all have a great memorys and this tip will not be forgotten the next time the question comes up. Good post indeed!crthttps://www.blogger.com/profile/11090290749972573771noreply@blogger.com