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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (62727)	4/25/2005 4:45:23 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

Elroy, each to their own opinion. Since he agrees with me, I have absolute proof that Thomas Sowell is not an imbecile. <Now we have a new imbecile named Thomas Sowell who has confused both the effects of income density and a real estate bubble, caused by extremely loose credit, on real estate price for the effects of land use zoning. > Do you think that Saudi Arabia turning off their spigots affects the price of crude oil? My guess is that you do. If a town planner turns off the housing spigots, I am happy to bet that the price of existing houses in the restricted area will not go down. Provided of course that it is actually a restriction and not a ghost town with the last council bureaucrat determined to restrict one last thing, even if nobody would have built a house anyway. Of course there are other variables such as low interest rates and speculative frenzy, but there is also the effect of town planning strictures. Events don't necessarily have a single cause. Usually they don't. Mqurice PS: Apostrophe alert - <Today seems to be idiots delight. >