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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (17805)2/24/2004 10:17:45 PM
From: Amy JRead Replies (1) of 306849
 
Tradelite, not sure why you generalize and equate high-spending, debt ridden irresponsible people (the discussion of your post) with engineers who are good with numbers (your twist at the end). You give the appearance of being biased against engineers.

Silicon Valley's issues are due to a loss of 30% of hightech jobs. No amount of bias against engineers, will change the facts that this is a greater job loss than the Great Depression.

RE: " Society needs a big dose of what some people would call "tough love". Stagnation would be good for us."

I completely agree with you. But it starts with you, if you have been benefiting from people around you whom you say are big spenders that buy large homes on debt.

You could turn this irresponsible business away.

Or, you could try to be active in changing the lending laws. You work in real estate, and have some power to make change. Or do you prefer to benefit from this asset boom by selling homes and gaining commission that is disproportionately consuming increasingly more of the common workers' salaries?

In Silicon Valley, the same 2 and 3 bedroom cottage homes cost 3Xs more in 7 years due to this asset boom courtesy of artificially low interest rates and the pumped up money supply (according to a prior post by someone on this thread*) on the backdrop of a limited supply of land. Since when is a 2 bedroom cottage home a luxury?

* Someone made a post on AG's comments to Congress and apparently AG said the increased money supply increases assets and debts - and AG didn't see any problem with that at all ! And you give AG a free pass on this debt problem and asset boom? He's operating this country like a casino and it's having an apparent negative impact on the common worker from any industry. It certainly penalizes responsible, frugal people who save, but then you would prefer it this way?

RE: ""discrimination against software engineers". Hello??"

It is indeed discriminatory to violate trade law that clearly states any jobs lost thru overseas trade should result in retraining. This is the law. This is not your nor my opinion.

Regards,
Amy J
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