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

To: mishedlo who wrote (22178)	1/26/2005 1:23:08 AM
From: John Vosilla	Respond to of 116555

What seems to be different this time from prior real estate manias? This cycle includes the internet, excessively easy credit and record low interest rates, big pool of immigrants, socialized ownership society program spread out on a much wider scale and for the first time housing as the wealth generator rather than the benefactor of wealth creation. Sounds like a disaster in the making that will make the Worldcon fraud look like a walk in the park.. <Victimizing both homebuyers and lenders, mortgage fraud is a big problem and it's growing, a byproduct of a go-go real estate market and technological advances that have led to easier transactions and identity theft.>