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

To: Elroy Jetson who wrote (59551)	8/10/2006 5:51:47 AM
From: 8bits	Respond to of 306849

"Let's see, the housing decline began in December 1989 and by August of 1990 Iraq invaded Kuwait. There might be a connection. Maybe Saddam Hussein realized ...." I don't know what merit's your sarcasm, I was basing my information from a conversation I had with someone who was a realtor in Northern Cal from the mid-80s to 1991 (I was in Seattle at the time which had a rising real estate market up to the Iraq War period..), this source indicates there was a dip in some parts of California in 1990 but that 1991 was the peak for San Francisco, San Diego, LA and the state as a whole: abag.ca.gov This study from USC indicates the peak in Southern California was in the second quarter of 1990: usc.edu Iraq I started in August 2, 1990 and extended till February 27th, 1991 and the 1990-1991 recession started in July 1990 unemployment peaked at 7.8% in mid 1992, I tend to think these events also had an effect on the California real estate market. Perhaps I am wrong. I sold my house in Oakland last year and am quite happy renting at the moment, I think we won't see the trough of this downturn for several years, but I suspect to get a really good shakeout a good recession is in order.

To: Elroy Jetson who wrote (59551)	8/10/2006 8:06:57 AM
From: Think4Yourself	Respond to of 306849

"Let's see, the housing decline began in December 1989 and by August of 1990 Iraq invaded Kuwait." That reminds me. Someone mentioned yesterday that she has started noticing a steady flow of military helicopters from an AFB 25 miles away. When the base becomes active it often means a major military action is coming down the pipe. A few years ago it was cargo planes flying very low. I trust everyone can guess what happened after that. It had to do with an airport and rocket fire. Shortly before that it was low flying pairs of fighter/bombers.