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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (172032)	7/19/2003 2:44:42 PM
From: tejek	Read Replies (2) \| Respond to of 1576778

RE:"But let me assure you, the current bubble like condition in the housing market is not from this law and does not extend to all markets in the country. In fact, not one analyst has attributed current conditions to this law. Instead, the blame is placed on demographics and weakness in the stock markets" Let me assure you TED, you are wrong. No, JIM, you are wrong. I have read numerous articles on the subject of the alleged real estate bubble. Not one has claimed that the bubble like conditions are due to that law......if they had, I would have known about the change in the law. That law has a lot to do with inflating home prices. Of course there are other factors...and so areas are hotter than others. What has a lot to do with the inflating housing prices in general is the lack of investment opportunities in other sectors, a shortage of land in many places, population shifts and restrictive zoning due to environmental concerns. The ability to cash out tax free is a good incentive to move...and where to they move? Florida, Arizona...where ever the rainbow ends. Aaaaaahhhhhhhhh......here we go. Once again we find another non Floridian 'something' to blame for FLA's problems. Let me tell you what's responsible for FLA's huge growth and jump in prices. First, it has the sun and flat land which were the initial draws. Then of course, its laws are fast and loose when it comes to development plus it has strong growth legislation in place. And to add fuel to the fire, cheap labor. For years that was great.......FLA led the country in growth.....increasing incomes, growing properity, lots of new jobs etc. But now FLA is choking on all that growth.....there are major environmental issues, you are running out of close in land, construction costs have increased; labor costs are much closer to the national average........things are not nearly as rosy but you are addicted to the growth and you can't turn it off. Plus, housing prices are beginning to soar like they have been soaring in CA, Boston and NYC for a couple of decades now........well before Clinton's change in the law in 1997. So, JIM, instead of btching, why don't you do something about it? There are no free rides and the free part of FLA's ride is now over. If Floridians don't adapt to the change, the state will go to hll......literally. The law IS a federal law and extends therefore to every state...doh. Lets take the caps gains off stocks and see what happens to the stock market. Nothing will move the stock market if the economy is not recovering; not even if you remove the caps gain.