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

To: Lizzie Tudor who wrote (18635)	3/15/2004 7:57:41 PM
From: Elroy Jetson	Respond to of 306849

No disposable income, because there' too much debt, exactly the problem. I haven't seen the same problem hit here in Southern California yet. But it was certainly the same in the early 1990's - empty restaurants and refreshingly traffic-free roads.

To: Lizzie Tudor who wrote (18635)	3/15/2004 11:43:44 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 306849

Greenspan Shifts View on Deficits WASHINGTON, March 15 — Consumer debt is hitting record levels. The federal budget deficit is yawning ever larger. The trade gap? Don't even ask. Many mainstream economists are worried about these trends, but Alan Greenspan, arguably the most powerful and influential economist in the land, is not as concerned. In speeches and testimony, Mr. Greenspan, chairman of the Federal Reserve Board, is piecing together a theory about debt that departs from traditional views and even from fears he has himself expressed in the past. Mr. Greenspan's view is that household balance sheets are "in good shape," and perhaps stronger than ever, because the value of people's homes and stock portfolios have risen faster than their debts. nytimes.com