powayseller: Thanks for taking the time to respond to Steve. I must admit that I agree with every single point that you made.
Trends end, manias end, real estate prices have been rising for so long it has become a true crutch for the American public to think that it can never go down. That real estate is a no brainer investment. These are the times to avoid ANY asset class that garners that type of reputation.
P.S. You might want to subscribe to Bill Fleckenstein: http://www.fleckensteincapital.com/index.aspx it is the best $100 a year someone can spend to learn from a guy who has been around the investment block many times. He is rational, smart and honest. I have been reading him for years, have profited greatly and would recommend him to anyone.
