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

To: Jim McMannis who wrote (25026)	11/4/2004 11:05:15 PM
From: Mike Johnston	Read Replies (1) \| Respond to of 306849

It is ironic that Russia has a better tax code, i think they have a 15 % flat income tax. What is happening before our very eyes is the destruction of capitalism and free market economy in this country. Corruption, bureaucracy, government intervention, manipulation of statistics, so called "propaganda of success", regulation, inflation, central planning, socialization of risk, shortages, decreased work ethic, monetization, destruction of savings, weak currency, lower standard of living, those are characteristics of a socialist economy. You can take 500K out tax free from the house only as long as prices are rising. Once prices stop rising they must fall, because a big chunk of demand for housing comes from the creation of "new" equity. Once prices are no longer rising and additional equity is not being created substantial demand is removed from the market.