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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (64422)	3/14/2007 2:41:42 AM
From: Haim R. Branisteanu	Respond to of 116555

those assertions are correct regarding price movements in general. My speculation is that many dwellings will go from private hand to subsidized housing, as is the case in NYC were many buildings were build as subsidized apartments from start with subsidized mortgages, taxes etc. It will cost the tax payer marginally as house prices will stay high and high property taxes will cover most of the conversion. Keep in mind that aside from prices of shelter which rose over 50% so did the property taxes. Therefore states are pig rich and just piggishly waste the revenues form RE taxes