The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: XBrit who wrote (168183)	12/1/2008 11:02:17 PM
From: Think4Yourself	Read Replies (1) of 306849

So then California was not successful in borrowing against expected future lottery ticket proceeds? They were actually trying to do that a few months ago. By this time next year California will be in worse shape than Michigan, at least from the standpoint of state finances. They are driving off a cliff with outflows vs inflows. Californians will probably laugh at that, just like they laughed at the prospect of their real estate prices coming down back in 2005. There were half a dozen people on this thread then who claimed it was ridiculous to even consider that California property values might tank. Too much wealth, too many innovators, too much whatever for it to happen there. Some people were still in a bit of denial as recently as 6 months ago.

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