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

To: Les H who wrote (26433)	1/4/2005 3:07:07 PM
From: Les H	Respond to of 306849

Daily economic comment fxstreet.com

To: Les H who wrote (26433)	1/4/2005 3:10:05 PM
From: Les H	Read Replies (2) \| Respond to of 306849

Government to fund mortgage loans for illegal immigrants duluthsuperior.com

To: Les H who wrote (26433)	1/5/2005 12:05:56 AM
From: John Chen	Respond to of 306849

LesHorowitz,re:"over-pumped the real estate bubble?". When HumanResource "jokingly" putting new college hire to sleep in the cubicle, it's not that far away. Expect more 'creative home-ownership program' by the goverment to funnel the money to the 'have', but using the 'have not' to shoulder the borden with 'interest only loan' or 'guarantee no-pain hand-me-the-key loan'. This is slavery in disguise.

To: Les H who wrote (26433)	1/5/2005 1:28:02 AM
From: John Vosilla	Respond to of 306849

<Irrespective of these cautionary signs, there are economic realities that exist today that are quite different than what was transpiring just before our last two real estate busts in the early 80’s and early 90’s. Both of those collapses were preceded by exogenous economic events that lead to huge employment dislocations in entire industries. In the 80’s, it was the implosion of the oil patch. In the 90’s, it was the fall of the defense complex as well as the savings and loan industry. By contrast, as our economy looks quite healthy at this stage compared to what was occurring during both of those periods: no apparent similar dissolution of an entire employment sector appears presently to loom on the horizon> Boy are the masses still clueless. The greatest risk will be the loss or downsizing of all those jobs tied into housing activity and construction. And the local multiplier effect on retailers as well as loss of consumer confidence and add in the loss of the home as a cash out ATM could be devastating.