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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 (38811)	8/22/2005 5:59:19 PM
From: JF Quinnelly	Respond to of 306849

Cut in half in southern California.

To: Jim McMannis who wrote (38811)	8/22/2005 6:25:17 PM
From: Les H	Read Replies (1) \| Respond to of 306849

They're talking about capping all deductions to the 15% tax bracket. I believe the AGI limitation currently kicks in at 28%.

To: Jim McMannis who wrote (38811)	8/22/2005 6:43:00 PM
From: Elroy Jetson	Respond to of 306849

In 1983, Chevron determined residential real estate prices in California would be 38% lower -- if Federal and State tax subsidies were removed. 1983 was after Prop 13 passed in 1978. Today the retirement "one-time tax on sale exemption" has been replaced by the serial $250k/$500k exemption. You'd have to decide if that change has made residential real estate even more or less subsidized, and thus over-priced, than it was in 1983. Why did an oil company care about residential real estate? We were re-negotiating a huge number of real estate leases with Southern Pacific and most of the available real estate indices were focused on residential home prices. We wanted to game different possible outcomes. .

To: Jim McMannis who wrote (38811)	8/22/2005 11:31:59 PM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

It would only hurt second home vacation areas and some barrios. You want that 40% haircut in primary home bubble markets without destroying the real economy as Greenspan appears to be doing just eliminate the low start rate ARM's or any other negative amortization loan programs, tighten underwriting standards back to five years ago, make 5% down payment mandatory, rollback the exclusion on homestead property to once in a lifetime as it was in 1996 and then immediately drop the fed funds rate 100 basis points<g>