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

To: Les H who wrote (59542)	8/10/2006 4:38:49 AM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

The idea that Defense Dept cut-backs caused the decline in Southern California home prices from 1989 to 1996 . . . is one of my favorite myths. Southern California lost slightly more than 3% of its total employment due to Defense cut-backs over this period of time. Job growth during this same period far exceeded this tiny decline in total employment. (notice the decline in Defense spending in California which apparently fueled the real estate boom from 1996 onward)