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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Ahda who wrote (2921)	1/8/2001 9:27:12 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 3536

Henry have you checked the price of your property lately? I have checked domestic real estate. Residential real estate has also gone up significantly where I live. But I live in Fairfield County Ct and I seem to recall you are in California (correct me if I am wrong). Those have been among the hottest markets and do not reflect what has happened nationally. On a national basis real estate has done well over the last few years but it was coming off of very depressed levels from the late 80s and early 90s. And even if domestic real estate has gotten over extended (a possibility I will concede) it is a far cry from what had happened in Japan. Just to be clear I am not discounting that there are excesses, even significant ones, in the US which will need to be worked off and will take time. What I am questioning is a comparison to Japan in the late 80s. The two situations are vastly different. The level of excess in the Japanese situation was much more extreme and the structural impediments to recovery were and remain much more intractable. We may indeed get a nasty recession but I strongly doubt it will be anywhere near the magnitude of the Japanese experience. Henry