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

To: JF Quinnelly who wrote (10968)	6/3/2003 6:39:05 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 306849

I know about the past actually, I heard that the legislature was out of control in CA in the 70s. But we have now made millionaires out of those people, as well as their heirs. I know this, because I was in the unenviable position of having to negotiate with countless long time homeowners to obtain rentals for my employees I was trying to hire in 98 in the bay area. My employees paid these people anywhere from 3K-9K/mo for the use of tract homes which probably sold in the 70s for 35K max. These people don't live there anymore, instead they choose to rent the properties and pocket the cash. Why not? They own the house practically scot-free, but the problem is that the RENTERS are using services and being subsidized by newer homeowners. What a bonanza for the clever individuals that chose to pass laws to ensure their future wealth at the expense of generations not even born yet. I'm not too concerned about their well being at this point.