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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Live2Sail who wrote (39036)8/25/2005 2:39:32 PM
From: Lizzie TudorRead Replies (3) of 306849
 
I'm not really talking about jobs in silicon valley. I think so many people actually left the area after the bust that workers might have an easier time than before. I'm mostly talking about national employment and whether this RE inspired boom is creating the kind of wealth that the stock market bubble did. Imho that is a resounding NO. The USA created 350K jobs month, every month for almost 6 years starting with 1995 in the stock market boom. Now, we have a month of 220K job growth after years of substandard <150K jobs months, and the economists call it spectacular. Spectacular in this sucky economy, is all. If we really had a boom like the 90s now, we would have a rising dollar and surpluses at the federal level, even WITH all the reckless spending going on. Real estate is a zero sum game in the US that is the problem. The tech boom was not like that, we were grabbing wealth from everywhere, a completely different mix.
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