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

To: Tradelite who wrote (5744)	10/1/2002 2:37:53 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE:"Homes don't necessarily make people rich. They do tend to enrich people's lives, however. It's important to discern the difference." Just "feeling rich" causes people to spend. The sinking feeling of not being rich can have the opposite effect. We have probably reached the point where additional tax breaks will be needed to keep the RE bubble going. OTOH, a falling market will soon reveal that you can't write off a loss on selling your house. To change that law, means less IRS revenue so it will be interesting to see is there will be a trade off for a repeal of the cap gains break on selling your primary residence. Either way, the fed budget deficit builds. Jim