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Politics : Ask Michael Burke

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To: PaperChase who wrote (80944)	5/20/2000 8:48:00 AM
From: Tommaso	Read Replies (2) of 132070

"Greenspoon is raising rates but not contracting M2 in an effort to cool the real estate market. Party on. I'm buying this next dip in the market." How do you know that? Aside from California and a few pockets elsewhere, real estate prices have not been in any kind of a bubble. I own and have bought and sold real estate, and most parts of the country are nothing like the Bay Area, which is in a frenxy all its own, like Florida in the 1920s or Tokyo in the late 1980s. Why should Greenspan skew monetary policy to control a boom in California? I never heard anyone but you suggest this.

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