The collision of global markets and social mood

Sunday, July 4, 2010

Road Trip -- Day 5: Bend, Oregon

I love this place. There’s no tourist board to speak of. You rarely ever hear of the place. And yet it’s a thriving spot in the middle of Oregon’s high desert. Kind, friendly, real people live and enjoy life here. I did not hear one beeping horn, one negative word, one bit of anger or impatience while I was here.

According to Money magazine, Bend was the fifth most overpriced real estate market in America in June 2006. By September 2006, it was ranked second, and in June 2007 it was named the most overpriced housing market in America.

I must admit I saw no evidence of this. I did not see an abundance of commercial or residential real estate for sale. The downtown area was thriving. Restaurants were busy. Overall, it feels as though lifestyle is the key draw here. And lifestyle seems to be winning.

I took a day off from driving and relaxed. I sat in the sun. Took a long walk by the Deschutes River. Caught up on emails and the markets. I may open a small call position as a hedge should the S&P cash test 1000.

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