Premier Investment Properties, Inc (PIPI)

[otterman]

The market in general or PIPI. Took some lumps but am so surprised where the markets have gone. Ridiculously over priced and I really don't know whats propping it up considering whats gonna happen in the next few years. You have to admit its way over due for a correction, and Im seeing the same things I saw during the 'credit crisis'. Im in RE and am dumbfounded at the same mistakes being made. I recently saw a million $ loan to a guy making $5 an hour pumping gas! Pretty sure how that's gonna work out.

Do you know that banks and institutions haven't even unraveled 1/2 of the bad debts from 2008 - 9! Some don't even know whats on their books let alone what their gonna do with it.

Needless to say Im being very careful in what I take on.

New mortgage rules came into effect on Jan 1 here in Cda. Guess what happened in Jan? The RE market sales tanked.

Hows things goin with you?