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

To: Mike Johnston who wrote (24356)	10/7/2004 6:28:51 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

Bottom line is. You will live in the more expensive house and "feel" richer but you will pay $3 a gallon for gas and will have a lousy neighborhood pizza. the Greenspan Gambit is that the enrichment people feel when their house value doubles in a year more than makes up for $3 gas (still less than $2 in Texas) or a crappy pizza (live a little--just buy a good one, after all you just made 250K on your house in one year). well, that is the Gambit as i see it. as Greenspan sees it, he is just "jumpstarting" the economy. unfortunately, he is in the driver's seat and his 120-year-old grandmother is pushing from behind up one of those steep San Francisco hills, so we do not have the best jumpstarting conditions.