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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 (30352)	4/29/2005 11:41:34 AM
From: John Vosilla	Read Replies (2) \| Respond to of 306849

Most wage/income increases are real estate related. It's a real estate economy. People didn't start speculataing in real estate because they got a raise in a non real estate related work areas. Agree that is the case in Florida. The speculation in real estate here is not from local engineers, doctors, pharmacists and software programers trying to make a living. It is all folks in the real estate trade's and flush with cash relocations from up north with too much time on their hands<g>. Without the population growth and influx of northerners cashing in their chips on overpriced homes in NYC and Boston metro areas we would be hurting just like Ohio and much of the heartland. I expect the next downturn to hit Florida as hard as any other area of the country as a disproportionate share of the wage economy is tied to real estate and it's related industries. People forget we've had the same demographic trends since the first bust in 1926.