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

To: Doughboy who wrote (39095)	8/26/2005 12:25:14 AM
From: patron_anejo_por_favor	Respond to of 306849

See the post to me from value added...I don't live in the Twin Cities, he does (apparently). NWAC/Target/BBY/US Bank? Check back with me in 6-9 months. Their Ag and healthcare industries should weather the next storm well, I'll grant you that.....Tech has taken a pretty bad beating over the years though. His point is that services are all that's left (other than Medtronic and the agriculture related stuff, that's pretty much true).

To: Doughboy who wrote (39095)	8/26/2005 1:01:21 AM
From: Smoke 'N Mirrors	Respond to of 306849

Minnesota diverse economy strong? Differences in opinion? Person One: "The sad thing is, there was a time in the 80's and 90's when Minneapolis really DID have a solid diverse economy." Person Two: "Hate to contradict you, but Minnesota still has a very strong, diverse economy. Maybe not so much in high tech, but it is the envy of a lot of cities: Best Buy, United Health Care, General Mills, Xcel Energy, Cargill, Target, US Bank, as well as Northwest, Medtronic, as you mentioned" My views on the companies you mentioned: 1) Best Buy & Target - An article on retail outsourcing: computerworld.com 2) Northwest - Strike and what about bankruptcy? Link below: freep.com 3) Medtronic - Lawsuit? Link below: classactionamerica.com 4) United Health Care & Xcel Energy & US Bank - No problem. But doesn't California have Kaiser Permanente? Having a "major" health provider is not unique to Minnesota, right or wrong? Many states also have their "major" power company too - Doesn't California have Edison? Again, many states also have their own "major" bank. Doesn't California have Union Bank? 5) General Mills & Cargill - No problem again but other states also have their own large corporations - Doesn't California have Yum! Brands & the Walt Disney Co.? In my opinion, to compare some major metro areas, their economies appear somewhat similar. There's typically a cluster of large, medium & small companies with their pluses and minuses. Each state also has it's own advantages and disadvantages. To say one's own area/state is the envy of others makes me realize of the economic advantages of other areas/states; where its cheaper to live and do business compared to Minnesota. Not to mention China, India, Hungary & Mexico's economic advantages... This brings back memories as a Californian who used to think California was also the envy of others. Well, I learned the hard way when employers packed up and moved to cheaper surrounding states - Arizona, Nevada, Oregon & Washington. Contrary to popular belief, the deep recession in California in the 1990s was not solely caused by the base closures and/or military cutbacks. In my opinion, it also got too expensive for businesses to stay and expand & for people to live there. I'm genuinely scared for the state of Minnesota but many people here seem undisturbed by corporate problems & appear to be as optimistic as ever...I think that has to be tempered. Its nice to reminiesce about the triumphant past as an optimist but its also important to plan, prepare and be a realist for the future. Saying all of that, I know that untempered optimism & economic issues are not confined to Minnesota alone. I'm glad that there are many people out there who are concerned of what may happen if real estate excesses are not moderated. I don't think people really want a housing crash as it may also affect other sectors of the economy. Who wants their Mom, Uncle, Cousins, Children, Friends to be damaged by this IF it happens? Nevertheless, it appears that the longer excesses go on the risk factors may also increase, what do you think? Let us hope, a soft landing occurs in place of a crash and that the adjustment goes smoothly.