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

To: Lizzie Tudor who wrote (39091)	8/25/2005 10:29:20 PM
From: tsigprofit	Respond to of 306849

And so, perhaps, we have finally reached the "Beginning of the end for real estate," as the NY POST put it. What a run it has been. The Center for Economic and policy Research reports that the housing market added $5 trillion in 'bubble wealth' to the American economy, an amount equal to $70,000 for a family of four. That is the fraudulent money that has sustained Americans at a standard of living they cannot really afford. It is the source of the illusion that the U.S. economy is growing and healthy. It was psuedo-wealth, an asset that really didn't exist. Too bad so many people spent it. "House party, finally over?" asks the Financial Times. We don't know the answer. Maybe it is over today. Maybe it will be over tomorrow. Our advice to readers: don't be the last ones to leave. - from today's Daily Reckoning...