For The Time Capsule
Looking for the perfect nexus between the girls-gone-wild Vegasification of society and the distortions caused by Alan Greenspan and the Federal Reserve? Look no further.
posted by The Cunning Realist at Monday, October 31, 2005
5 Comments:
"I feel totally safe playing polo on a field full of pros," says the bronzed 58-year-old. "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." The amateurs are going to get trampled, he explains, taking seasoned horsemen, who should get off the turf, down with them. Says Barrack: "That's why I'm getting out."
The guy probably wouldn't mind if someone invoked eminent domain right now. It's not like he doesn't want to sell the house.
If there was a taking, he'd get compensated at the market value of the land and he'd save on the broker's fee. Though his legal fees would eat into that a little.
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