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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: mitch-c who wrote (49072)	7/11/2001 1:42:47 PM
From: Pete Young	Read Replies (2) \| Respond to of 70976

I don't want to pile on, but I noticed the same thing you observed, mitch-c, lot's of places for sale. I live in rural Southern Oregon, and it was shocking to see all the places for sale, but not too surprizing considering the stories I personally know about some of my retired neighbors and the hit they took in the markets. Maybe some of them are unable to continue in their retirements and are selling for cheaper digs? I understand from an recent article in Business Week that most of the pain of the market crash was borne by the top 20%. Our area is increasingly dominated by just that crowd. One other thing, I've been seeing quite a few nice Ford "Valdez" type motor vehicles for sale lately.

To: mitch-c who wrote (49072)	7/11/2001 2:09:31 PM
From: BWAC	Respond to of 70976

<Apparently, the rural sectors of the economy are in much more of a credit crunch than others - if it is fair to extrapolate this observation across the country. On my drive back to Texas, I noticed similar conditions, so I think it's at least a regional thing.> There is nothing new about that. It was that way in 1995, 96, 97, 98, 99, and is worse now probably. Drive 30 minutes outside of metro Charlotte, NC and its the same as you described. Get past metro Raleigh, NC toward the coast and it is actually depressing. Take a drive to Myrtle Beach and scratch your head wondering what economy Greenspan was looking at. Some of these places were actually getting factories moving in, but no longer. Even Myrtle Beach was far less populated over the July 4th weekend. There were hoards of people there. But no where near what it usually is according to some merchant friends. Go the other direction towards the mountains? Any better? Nope its worse, but less visible to the eye. But none of this is new. Its been this way for years. Even as the easy to see overall economy was doing well. Unemployment in counties surrounding metro Charlotte, are 9% and 8% and 7% and a few others above 6%.