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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (219164)	2/14/2005 8:08:54 PM
From: tejek	Respond to of 1586780

Ted, If it weren't for this tax break, there would not be a housing boom in this country right now, the recession would be much, much deeper and you would not be posting on this thread because you would be too busy cold calling to drum up business. Your gratitude is a bit underwhelming. Jim can answer for himself, but I think you are missing his perspective. The housing boom is artificial and will take some time to work off. Its real enough.......money has been diverted from the stock markets to the housing market. And, of course, those markets experiencing hyper rate increases in price will suffer the most when the boom is over. That would be the usual suspects: LA, NYC, OC, SD, Boston, Denver etc......they will be in the housing doldrums once again. However, that's not true of most markets and that's because the baby boomers are in their peak buying years. In fact, many markets are not overbuilt........a fact that McMannis fails to mention in his quarterly lament. Had Clinton not passed the tax cut Jim keeps talking about, the housing boom wouldn't have been as extreme. Same thing regarding the deduction of housing interest, though that was there long before Clinton. True.......not to the extreme. The boom has been fueled to some degree by this gain's tax cut, but frankly, I don't think its what caused the boom nor is it what ails this economy. In fact, Bush supporters should be grateful.......its the housing boom that's kept this economy afloat and made the Bush years more palatable. Personally, I'm grateful to have jumped in just a little bit before the peak, but I wonder about my friends and coworkers who don't own their own homes yet. I want them to be able to afford their own home, but that also means wishing for the value of my home to go down. You never know about housing prices. They could turn around next year and come down..........the housing market is noted for its peaks and valleys. However, in OC, I think long term the price will go up but you could have the misfortune of getting a job transfer just as one of those valleys is bottoming. That's when it can really suck! ted