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

To: John Chen who wrote (149352)	9/23/2008 11:36:04 AM
From: Jim McMannis	Read Replies (2) \| Respond to of 306849

This has been a long time coming. The government promoted IRA's, 401ks, pension plans, annuities etc.. The main beneficiary was securities through Wall Street. They promoted Real Estate as an investment under the 'guise of homeownership through tax breaks. Enter the fuel of Greenspans low rates, too low to long. Enter Fannie and Freddie. Loan 'til you drop. Wall Street figured out a way to combine Securities with Real Estate. Most Pension plans go through Wall Street. We are in big trouble.