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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (166)8/6/2001 10:46:19 AM
From: Jason W of 306849
 
Grace,

My statement is far from scientific, but backed up by my own experiences. I own a business and live in an upper middle class neighborhood. My business contacts and friends are people very similar to myself. We are talking about people ranging from their 30's to their mid 50's. Incomes are mainly 80-150k, and net worth's are in the 200-500k range..(These are broad ranges, but serve the general purpose.)

I have seen several things happening over the past 18 months:
1. People re-financing and cashing out the equity in their property, thus feeling "richer". This is what is fueling the current economic spending.
2. People are talking much less, if at all about the stock market. Noone would dare mention a specific stock tip anymore.
3. People are cashing out of the market, s-l-o-w-l-y. This is a painful capitulation.
4. People are unsure and not confident in the markets ability to rise over the next few years.
5. People are considering purchasing real estate as a new "safe haven", or better place to put their money.

Inflation and rising interest rates are not present yet, but IF they appear, my opinion of a real estate top fueling a recession will increase from a possibility to a probability.

Just my $0.02.

Jason W
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