Since March this year real estate sales picked up, stock market rallied over 30%, Index of Consumer Sentiment rose for a fourth straight month, oil price soared.
I will be very happy if the market keep moving like the last few months, I will make more money than in 2007 when the market peaked. It is just too good to be true.
I remerber Warren Buffett's quotation - "Be Fearful When Others Are Greedy And Greedy When Others Are Fearful". I think it is time to short stock.
I guess it is the last phrase of real estate market. When people cannot afford single family house, they buy condo; when they cannot afford condo, they buy co-op, REO/Real Estate Owned by banks. As I am specialized in selling co-op, maybe that is why my business picked up more.
in the last cycle I remembered the co-op price dropped about 50% from peak to bottom in Flushing; in this time it only dropped about 20%.
I hope my guess is wrong, but for people who buy for self-occupied, it is always a good time. Why pay rent while you can own?
