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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (2188)	7/16/2002 9:05:28 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

imagine what happens to economy when RealEstate gets hit talked to old college buddy in gorgeous Vermont last night his neighborhood has seen a 25% appreciation in property values in the last 12 months and taxes have risen to support the local social net and utilities have risen does anyone else notice the parallels with Naz in 1999? the previous 12 months saw a 20% rise in property values extrapolate into the future and his little 2-bedroom house will be worth about $2 million by 2010 he can then sell out and retire, move to Florida everyone needs a place to live, right? they aint building any new land, right? 20% per year as far as the eye can see, right? everyone needed technology in 1999, right? wireless, fiberoptic, broadband, remote access all will revolutionize the world, right? 20% per year as far as the eye can see, right? the stock market might be telling us that the economy will suffer a painful recession when the real estate sector gets whacked the distraction is now corporate fraud and malfeasance many investors are diverted from the warning that the stock market might be giving about a real recession upcoming that, or a debt meltdown as Russell warns this early spring we had two safehavens: Dow and RealEstate now we are seeing that by year's end maybe just one next year maybe less than one / jim