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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (50861)	5/2/2002 8:11:32 PM
From: Ex-INTCfan	Read Replies (1) \| Respond to of 65232

re "if 80-90% of the price is supported by debt, then the entire game is largely built upon shakey debt. I expect mortgage rates to get back up again by 2003-04, I expect rates to be near 8% they are now under 7% again for many offerings" I agree with that part of your statement. I'm still surprised that the west and east coast residential real estate prices haven't collapsed. The east coast may not, but the west coast, particularly Silicon Valley and San Francisco, will shortly. I don't agree with a 2003 recession, however. The recession has run its course, and it will be too close to elections for Bush and Congress to let that happen.