[Pen-l] Now I'm scared

[Julio Huato <juliohuato@xxxxxxxxx>]

>From Cramer's response to a question, as linked by raghu:

"I think that real estate is a once-in-a-lifetime opportunity, because
there are no competitive buyers. Mortgage rates are the lowest in my
life. Affordability is the best in my life. Clearly, real estate is
much better than stocks right now."

Since family continues to expand, we are now in the delicate process
of selling our tiny co-op apartment in Sunset Park and buying a house
in Bed-Stuy.  Given current rates and market conditions, it seems like
we'll be able to afford a -- for our modest standards -- huge 3-story
limestone house, fully restored and renovated, with top of the line
appliances and amenities.  I mean, this is Brooklyn, and Bed-Stuy is
officially a "low income," predominantly African American and
Caribbean neighborhood.  However, the fact that *Cramer* is advising
people to go long on real estate scares the hell out of me.  PEN-L
should provide bubble insurance to its members.
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