There is a good article on the low end luxury real estate market ($750K-$1M) on page W 8 of the 1/26/07 WSJ. It never pays to be late to the party so to speak.
And again in the statistics don't lie but dept....when I was studying to become a broker in 1972, mutual funds handily indexed the year 1931 as the assumed start point to buy a mutual fund. That handily indexed the DOW industrials to its all time low at about 44, which was a whopping 300 at the top in 1929. This of course was wildly unrealistic, virtually no one started investing at the bottom of the Great Depression, but the arithmetic of it made the theoretical returns look oh so much higher. It would be the 1950s before the DOW actually traded over its 1929 high again after all, if they had taken that year as a start it would be obvious that no one would have made any money in a mutual fund for thirty years!
A similar thing is about to happen. 2002 was a melt down year what with 9/11 and the dot.com bust. This year will eliminate it from the five years average. Five years now spans 2003-2006 eliminating the disaster of 2002. This will magically transform the five year 'average
returns. See the article on page Cn 1/26/07, The Butual Funds Eraser. This is exactly the sort of information I am trying to deliver to you outside the normal textbook and classroom.
DLE
PS can you identify the home pictured at the start of this post?
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