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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (4588)	8/21/2002 11:40:19 AM
From: tony	Read Replies (1) \| Respond to of 306849

We are caught in the vicious cycle of keeping up with the Jonses and have become too materialistic. Real Estate is a bubble whether in silli valley or anywhere in USA. It will pop, if not then it will stagnate for next 10-15 years. Bears have landed and they are not leaving the town for a while. We are in for some tough times. I hope I am wrong as I see lots of misery in the future. In 1989 all these appraisers were jacking up the values, all we need is little tightening of the appraised value then we can see this bubble deflating slowly over period of time. Again, I think it may not deflate next couple of years either with low interest rates. What I see in that situation, we are creating modern slaves working their tail off to pay their debts. IMHO.

To: GraceZ who wrote (4588)	8/21/2002 1:22:20 PM
From: David Jones	Read Replies (2) \| Respond to of 306849

....If there was only one wage earner then housing prices would be lower....better off remembering a long summer night spent out on the lawn with home cooked food, friends and family, telling stories,.... Grace your a romantic!) I would say WW2 started it and today it's the norm for most average households to have two income strings. It's out of the bottle and there's no going back.

To: GraceZ who wrote (4588)	8/21/2002 1:48:18 PM
From: MSI	Read Replies (3) \| Respond to of 306849

How many kids will grow up and remember Mom's great granite counters or Sub Zero fridge? Frankly they'd be better off remembering a long summer night spent out on the lawn with home cooked food, friends and family, telling stories Hitting the nail on the head, you are. Pendulum swing the other way, it must, sooner or later. The problem is this "Landed Gentry" thing emerging creating socially isolated enclaves, connected only by mass media as their common experience. Since assets are transferrable into cash as the "universal good" in blind economic parlance, it seems like a "good thing" to covet this asset expansion, even in competition with social contraction. Whatever happened to classic liberal arts education and the ideals of socialing among friends, family. I'd like to see some numbers comparing hours working/discussing work/thinking about work, versus non-work socializing, compared with 50 years ago.