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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (4588)8/21/2002 11:40:19 AM
From: tonyRead Replies (1) of 306849
 
We are caught in the vicious cycle of keeping up with the Jonses and have become too materialistic.

Real Estate is a bubble whether in silli valley or anywhere in USA. It will pop, if not then it will stagnate for next 10-15 years. Bears have landed and they are not leaving the town for a while. We are in for some tough times. I hope I am wrong as I see lots of misery in the future. In 1989 all these appraisers were jacking up the values, all we need is little tightening of the appraised value then we can see this bubble deflating slowly over period of time. Again, I think it may not deflate next couple of years either with low interest rates. What I see in that situation, we are creating modern slaves working their tail off to pay their debts. IMHO.
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