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Strategies & Market Trends : Classic TA Workplace
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To: jjstingray who wrote (77666)7/21/2003 3:27:09 PM
From: AllansAlias  Read Replies (1) of 209892
 
The cluster-f*ck resulting from a collapse in real-estate prices (say, 30%-40% drop) would be, well, a cluster-f*ck. Your Mr. Greenspan, by hinting last week that rising real estate is a good thing for normal people, shows that he has finally come entirely unglued from reality.

In some ways, I would welcome the collapse. When I look around my village and see what it has wrought; all the tasteless development from new money chasing a return, all the homes sold and turned into 2nd homes for folks from Philly or Toronto, the rises property taxes in an era of falling services. The whole thing smells of greater fools and reversal.
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