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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (7560)	6/5/2004 3:20:53 PM
From: yard_man	Read Replies (2) \| Respond to of 116555

on the general theme of look elsewhere -- I think that is very good advice -- but that may not be Rob Boyle's values -- obviously he must choose. Also, his piece is much like the stock bears in the late 90's -- got to take life as it is -- something may not make sense to you -- got to live with it and cope with it the best you can. If he likes CA enough to live there, but doesn't want to risk his savings by plowing into real estate that is not what he considers to be a good value, fine. Yeah, our economy is screwed up -- he's just got to deal with it, IMO. As relates to Prop 13 and folks being undertaxed -- baloney. Taxes are too high, not too low. Infrastructure and education wouldn't be any better in California if Prop 13 weren't in place -- the money would have went somewhere else -- public education is just finding its natural result -- the devaluation of education. On his other pt regarding special things that may extend the housing bubble farther than anyone thinks -- we are in the 7th or 8th inning at the earliest and quite possibly the 9th inning. I disagree with the author. Japan's real estate bubble lasted, what, 3 years beyond the bursting of the equity bubble?? Not saying that is an exact pattern -- I am saying the transition from stock bubble driven economy to housing bubble economy is nearly complete at this stage.