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

To: mishedlo who wrote (33314)	6/13/2005 2:04:52 AM
From: tsigprofit	Read Replies (1) \| Respond to of 306849

I agree Mish, but not just programming jobs - many / most white collar service and professional jobs. People bought their real estate expecting their incomes to be stable, and hopefully, slowly grow over time. What a surprise coming up to many as incomes continue to stagnate and go down in many fields - all the while property taxes, insurance, energy costs, etc. is going up. Lower incomes can't pay the mortgage payments and taxes - so eventually something has to give. I think we will see more of this in 2006-2008 here. POP t >> What will happen is the cost of programming jobs in the US will decline right along with housing prices. Anything that can be outsourced will be, and housing prices will fall and bankruptcies rise. in a single word: deflation Mish