[laserboy]

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Laerboy has all them big words....but suprisingly little in the way of facts...The fact is the most undervalued asset class for the last 25 yrs has BY FAR BEEN QUALITY REAL ESTATE. If you buy in areas not susceptible too white flight and butressed by excellent schools real estate has-will outperform-ed almost every other venture capital mode(just ask WARREN BUFFET WHO HAS LIKE 76% OF HIS MONEY IN REAL ESTATE CONGLOMERATES AND INSURANCE). Plus the tax advantages...plus it provides shelter...plus low interest lendiong opportunities plus rent is a complete waste....should i keep rambling??

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LOL! Oh really? Is that why Buffett sold out of FRE and FNM after holding them for decades?

Price/rent and price/income level ratios are at record highs, as are bankruptcies and forclosures (even with interest rates at historical lows). The rise in real estate prices is the product of artificially low interest rates and unscrupulously lax lending practices. Nothing more. Housing prices are unsustainable at their current levels, especially in an economy like Las Vegas that produces nothing.

You are either a real estate agent, a mortgage broker, or a hyperleveraged fool knee deep in adjustable rate interest only mortgage payments.