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To: Lizzie Tudor who wrote (47524)	6/16/1999 1:48:00 PM
From: epicure	Respond to of 86076

That is how I recall it- of course I remember the tech job market- which was tight even in 1985, but got tighter. I saw a correlation here to housing prices rising and stock money- more and more people using stock money (or using their accounts as collateral) to buy bigger and bigger houses.

To: Lizzie Tudor who wrote (47524)	6/16/1999 3:46:00 PM
From: Haim R. Branisteanu	Respond to of 86076

Michelle, housing boom was a direct result of easy money with cooked appraisals and later after Oct. 1987 crash as a result of the crash the snake oil sellers were touting real estate and gave Japan RE as an example of safe investment. (BTW it is happening today again in the NY area. I tseems people never learn <G>) After the cashflow was unable to support the mortgages the market started to collapse. Remmeber the musical chairs game?? It happen then will happen soon in the market.