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Kulicke and Soffa Industries, Inc. Message Board

  • specsit2000 specsit2000 Jun 24, 2010 8:35 PM Flag

    Storage/Destin RE Area

    I inadvertantly ran across an article on Panhandle RE today which referred specifically to properties in the Destin area.

    Evidently the area, which is one of the best beach areas in the US, has received a series of sucker punches over the past six or so years that have devastated the RE industry/owners of real property in the area.

    I am referring first to the series of hurricanes several years back, followed by the housing/RE bust beginning in 2005, and now the oil spill which has again seized up the just recovering Panhandle/beach markets.

    The article cites 2005 peak to current price declines for commercial properties of 50% and 20% for inland residential properties.

    You know, I think it all began with the stock market collapse of 2000/2003. For a period of time, people switched their $ to RE which had been a dependible 3% grower for the 40 years for which good RE data were collected. After the stock market bust, people were more prone to investing in RE, and the 3% annual RE factor escalated to 20%/year. Of course the fast money broncos - the same who took advantage of our economic downturn in 2008/9 - climbed aboard and the rest is history still in the making.

    And to think it used to be as simple in RE as the three words "location, location, and location." Or in stock investing as simple as "buy long and hold."

    To quote your usual signoff - "onward through the fog!"

    specsit.

    I am long KLIc.

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    • I thought you would like that. I picked up some intc today at 20, and a little amkr, but missed out on klic as it got away

    • I would write a book, but you know how much trouble I have with paragraphs, so you can imagine what chapters would be like !

    • Not a lot of people know about this area, but they are discovering it via BP . I've been coming here over 20 years and buying real estate on and off for about 15. This market always appreciated at a 5 to 10% clip, well ahead of most markets, and I always told myself, and others, that it wasn't substainable, but it never slowed down. There just isn't a lot of land here, and very few live here, so the summer tourist and real estate was all that keeps this place going. Since the real estate collapse, this place has been hit hard, but it all goes back to the free $$$ and lending standards. Prices went from the normal 10% to 25% in 1 year, then 50% and then basically every piece of anything doubled the next, as the euphoria hit. Thats when you knew something was up, as the peak came around 05. Prices still haven't stopped dropping and in my mind values are still to high, but I always thought that way, years ago. Every year you would come back, and kick yourself for not buying. Flipping became the game and all was ruined, kind of like whats happening with the our economy. Free $$$ is not working this time, and I think we are in bigger trouble than most think.

      • 1 Reply to storagelh
      • storage,

        Fascinating story.

        You should write a book.

        If you incorporated the BP story successfully, the book could be a best seller!

        As for the economy, I wouldn't worry so much.

        We are in the "creative" portion of the "creative destruction" phase of the economic cycle, and that preceeds "renewed growth".

        What will be the drivers of that upswing phase?
        Improved regulation and new energy sources quickly come to mind, as well as automotive industry restructuring. Also, basic export profile due to changing China yuan value.

        Just my .02 worth.

        spec.

        I am long KLIC.

    • .....................we ainte seen nothin yet!!! i wonder if they can even stop the leak?...some of the beach dwellers say they can actually smell the oil fromseveral blocks off the beach??????and it's been said that a hurricane will blacken the seaward side of homes in beach towns!!!!!fixed or not fixed,,,,,,this will be a decade long problem.

      • 1 Reply to joerobinsonart
      • joe,

        Really reveals the indirect costs of carbon-based energy in a compelling, tragic way.

        I saw a TV show last nite called "gasland".

        I'm not sure when it was made. The people living among the wells/blowoff pipes in Texas have water with lethal concentrations of deadly contaminants and to date, no recognition or compensation (if that were ever possible.)

        Not to mention their polluted atmosphere>

        Talk about unrecognized indirect costs!

        And we consumers drive our gas-fueled cars with 3.00 gas with nary a thought!

        JMO

        specsit.

        I am long KLIC.

 
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