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Originally posted by marg6043
reply to post by Vitchilo
The problem is that you get stuck with the property taxes and I don't think the properties are even worth the taxes that are owed.<
Originally posted by pause4thought
reply to post by Cabaret Voltaire
Anyone who rides this market is either akin to a world-class poker player, stark raving mad, or in cahoots with GS. Which is it?
S&P 500 Overvalued by 40%, Set to Fall
Oct. 26 (Bloomberg) -- The U.S. Standard & Poor’s 500 Index is about 40 percent overvalued and headed for a drop as central banks pull back on securities purchases that pushed up asset prices, according to economist Andrew Smithers.
Declines are also likely because banks will need to sell more shares to raise capital and restore their financial health, the economist and president of research firm Smithers & Co. said in an Oct. 23 interview at Bloomberg’s Tokyo office. A 40 percent tumble from the S&P 500’s price at the end of last week of 1,079.60 would take the gauge to 647.76, below its March low.
“Markets are very vulnerable to an end of quantitative easing,” said Smithers, 72, who recommended avoiding stocks in 2000 just as the U.S. benchmark entered a two-year bear market. “Central banks, they’ve got to stop some time and if that happens everything will come down.”