VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (51632)	5/17/2002 7:05:42 PM
From: steve susko	Read Replies (1) of 65232

i read your scenarios about real estate and wonder which of the 2 you think is more likely to materialize? In general, the population is ignorant about precious metals, but I think we are seeing a strong clinging on the real estate property, and mad dash to get into real estate ownership as a safe harbor. It is seen as both a safe asset as well as a instrument to obtain leverage to refi and 2nd, 3rd mortgages to consolidate consumer debts into tax deductible debts. Even thought the original tax deduction laws were not meant for consumer debts, the fed is practically allowing now. These are strong incentives to a heavily debt ridden population. On top, they just eliminate capital gains, and will be modifying the existing laws to elimiate capital gains for homes kept less than 2 years. These significant law changes have been passing pretty much quietly with no commotion. How do you think the real estate market will play out given these extra forces going at it?

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