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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (69378)12/26/2006 10:30:22 AM
From: John VosillaRead Replies (1) of 306849
 
Jim I don't blame Clinton and the democratic Congress for that. Things were going along just fine down here in the late 1990's. It was Greenspan,the socialized ownership society, loose lending, financial engineering in DC, global warming and a lot of greed and short term thinking by local government and RE insiders down here that did us in. $250/500k tax free gain on homestead in 1997 was a badly needed stimulus at the time.. Who would have thunk things would change so dramatically..

Oddly when you step back we've got all these incredible events and add in record low interest rates to the mix and yet more than half the country didn't even participate in the appreciation boom.. Some of these are very fast growing metro areas like Atlanta, Dallas and Denver that now look much more competitive in competing in the real economy going forward versus the bloated coastal markets....
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