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To: patron_anejo_por_favor who wrote (35465)	11/9/2000 1:57:42 AM
From: XBrit	Respond to of 436258

I suspect many boomers are going to be stuck with fat mortgages on properties in which the amount owed to the bank will be more than the present value of the property, after the real estate bubble goes. Think of this in places like Silicon Valley During the last recession, 91-93, there were tens of thousands of properties in L.A. in this situation. The collapse of the military aerospace industry just devastated their real estate market. Silicon Valley didn't get quite that bad. I bought my San Jose townhouse in late 93 for $227k, maybe 20-25% off its peak from the previous boom in the late 80's. now its market value is probably $500k. So yeah, there is a fair way to fall in even a mild recession.