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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: anachronist who wrote (30235)4/27/2005 4:56:32 PM
From: patron_anejo_por_favorRead Replies (1) of 306849
 
Talk about a self-reinforcing bubble!

the housing industry as a whole (including expenditures on existing housing) contributes $218 billion to California's economy, supports almost 1 million jobs and accounts for approximately 10 percent of all statewide economic activity." I would conclude that strong employment numbers are therefore an effect of the housing boom, rather than a cause.

So now the housing industry IS the economy, so when it rolls over we're doomed in one additional way, all the job losses (that will not be replaced, as the other jobs are running full speed to Chindia).
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