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

To: Riskmgmt who wrote (38251)	8/17/2005 10:37:17 AM
From: John Vosilla	Respond to of 306849

I think most of the junk built in the early to mid 1980's boom there have already been demolished. I remember some small Wall Street backed players I was affiliated with back in 1989 going there to buy apartment buildings after the collapse and bragging about the deals. Amazing that here we are 16 years later, many of those areas are still about the same price and most locals are negative about the future prospects while most owners in California expect 20% appreciation in RE the next 10 years. Policies of the Bush administration and "ownership society" have helped bring great prosperity to blue area RE. But oil also at all time highs. Time heals old wounds but over there it sure has taken a heck of a lot longer than most other places.