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Non-Tech : Deflation -- Ignore unavailable to you. Want to Upgrade?

To: JF Quinnelly who wrote (237)	1/23/2004 12:19:03 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 621

Unfortunately, the limit will be found as interest rates rise, by which time it might be too late to clear the debt before declining house prices result in mortgagee sales. I agree that there is a significant risk that it could become very, very ugly. Thank goodness the stock market isn't lined up for a crash of Y2k proportions at the same time, though the Dow has reached Y2Kish levels. The Nasdaq remains very well pummelled. Fortunately too, there has already been a major US$ decline so that won't be a bolt out of the blue. Also, there has been 3 years of market clearing after the Y2K mess. So, maybe a house price decline won't be too bad, if it happens. Mqurice