Real Estate: Oh Crap

Monday, October 17, 2005
I feel like all I speak of is the doom and gloom of the financial markets. Here is another tidbit.

Tom Barrack, one of the wealthiest real estate investor in the world, is getting out of the U.S. market. He states,
""I feel totally safe playing polo on a field full of pros. But when amateurs are all over the field, someone can get killed. They have more guts than brains. They charge after every ball and don't know when to hold back." It's the same with the U.S. real estate market right now: "There's too much money chasing too few good deals, with too much debt and too few brains.""

Seriously folks. The peak has been reached. Get out now. The bubble is about to burst. I wasn't as adament about calling the top before but I am now. When the smartest minds declare its time to get out, you best listen up and pay attention.