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To: Perspective who wrote (225207)	3/4/2003 11:09:54 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

<<Look at Japan: asset deflation, mortgage rates in the 3.xx% range, but real estate is still a terrible mess. That's our future. Where we may not have had a real estate bubble in 2000, we most certainly have one now.>> Of course, but the low rates were not causative, they were an epiphenomenon. Reduced lending standards and bad accouning practices were the root problem (there and here), IMO. Low rates were the residue of the attempted fix....