The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Ramsey Su who wrote (322)	8/25/2001 6:07:16 PM
From: stomper	Read Replies (1) of 306849

Why? I've contended for months that one of the main reasons we are not seeing reported numbers match "reality" is that the layoffs that have been effected have been much more weighed towards white collar jobs. I think many are too proud/ashamed/embarassed to go from 60-100k/year jobs to standing in the unemployment line to collect benefits. Not to mention that many in this income level have some money (be it 401k, house refi/cash out, etc...) that they will drain before they go to the unemployment office. I must admit, I've never really tried to flush out this hypothesis with statistics, but it is the only thing I could come up with to make the numbers jibe with what is going on . -dave

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