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To: yard_man who wrote (7572)	6/6/2004 10:49:37 AM
From: dpl	Read Replies (1) \| Respond to of 116555

"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. " It was about 1 1/2 years.They had a different situation than here.They had two bubbles that existed at the same time.When one burst the other followed. We had one-stocks.When that burst RE went bubble almost at the exact time.It is cushioning the first.When the RE bubble goes there will be nothing left to hold up.We will deflate. David

To: yard_man who wrote (7572)	6/6/2004 10:58:56 PM
From: ThirdEye	Read Replies (1) \| Respond to of 116555

You are correct to a degree about Boyle's response. He overstates his case about Prop 13, implying outlandish things like illegal immigration wouldn't be such a problem if it wasn't for Prop 13. And he obviously doesn't live in Ca. But you don't sound like you do either. The fact is that schools are being bled dry, have been for many years. Municipalities are shrinking essential services, schools are closing for lack of funding(no wonder the quality is lousy?). Municipal bankruptcies are a reality. And now, the Governator has decided to take funds away from mass transit systems to help balance the state budget, resulting in brutal cuts in services. So yes, Prop 13 is an issue. On the other hand, Boyle totally ignores the fact that tax revenues are augmented by bond measures and local propositions and assessments to maintain services and infrastructure. So the property tax bills of all homeowners do rise consistently despite the fact that the assessed value remains the same.