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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Amy J who wrote (266368)	12/29/2005 12:06:20 PM
From: tejek	Read Replies (1) \| Respond to of 1575182

http://www.siliconinvestor.com/readmsg.aspx?msgid=22006273 RE: "Why you think that's terrible is beyond me." Too sudden of a change, that creates an economic imbalance. They should have done it gradually in stages. Message 22007777; Just the facts: In 1976, for the first time in its history, the median for California was greater than the median for the US. From that point forward, CA's median has never been less than the national one. Hence, 1976 marked the year that CA's housing market became red hot and brought on the speculators who soon began to be known as flippers. During most of the 1980s, CA had a hot housing market. Then things fell apart around 1990.....the median dropped by as much as 30% in LA; a lesser number in SFO. A lot of people, particularly flippers,lost a lot of money. By 1995, the worst was over and things began to improve again. By 2000, the CA housing market was red hot again, bringing on a new breed of flippers. In other words, flippers are not a new phenomenon nor were they created by Bill Clinton's tax laws in 1997. Furthermore, CA has not suffered a loss of MDs or engineers or interior decorators because people decided to go into flipping houses as opposed to medicine. And let me just add what I said to McMannis........flipping is not the mother lode that the news media would have you believe. Its a lot of hard work and only works when the market is red hot. I flipped a couple of houses just before the 1990 recession and then again between 1995-1998. I know of what I speak. ted