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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Kip518 who wrote (53503)	6/10/2000 6:54:00 PM
From: Ron Mitchell	Respond to of 99985

Kip, sorry, I don't buy it. What you wrote may be true of NYC, which does indeed depend heavily on Wall Street as a business, but the '87 stock market crash didn't result in financial institutions failing across the Northeast US in the late 80s and early 90s. In fact, there were regional recessions both before (in the Midwest farm belt, in the Oil Patch) and after (Northeast US, parts of California) the stock market crash. RM The Northeast U.S., because of its dependence on financial institutions & the stock market as a business, went immediately into a recession. It took almost 10 years for the real estate prices to recover to pre-crash levels. Granted the rest of the country did not suffer as badly.