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To: LLCF who wrote (52189)	12/29/2000 10:38:58 AM
From: marginmike	Respond to of 436258

The Real Estate denial thing really makes me chuckle. If anything is effected by wealth effect more then anything its the Housing market. Especially the 400-1.5 mill segmant were the middle class hangs. The BK needs the slowdown in RE to speed up because that IMHO will bring the rest of the old econ and financials down. I think the DOW/BKX might make new highs before they follow Nas example. JMHO

To: LLCF who wrote (52189)	12/29/2000 11:27:10 AM
From: Oblomov	Respond to of 436258

DAK, it has, but obviously the homebuilding has been on a much smaller level here than on the coasts. Nonetheless, the city benefited immensely from the 90s boom due to the expansion in FIRE as a % of total economic output. Due to FIRE, Lilly, and some successful tech companies, there is a large % of young affluents here, but they mostly live according to traditional Midwestern decorum...rather 'burgherlich', tidy, and guiltily ostentatious. Think Winnetka rather than Short Hills. -g-