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

To: XBrit who wrote (168183)	12/1/2008 11:02:17 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

So then California was not successful in borrowing against expected future lottery ticket proceeds? They were actually trying to do that a few months ago. By this time next year California will be in worse shape than Michigan, at least from the standpoint of state finances. They are driving off a cliff with outflows vs inflows. Californians will probably laugh at that, just like they laughed at the prospect of their real estate prices coming down back in 2005. There were half a dozen people on this thread then who claimed it was ridiculous to even consider that California property values might tank. Too much wealth, too many innovators, too much whatever for it to happen there. Some people were still in a bit of denial as recently as 6 months ago.

To: XBrit who wrote (168183)	12/1/2008 11:46:04 PM
From: Skeeter Bug	Read Replies (2) \| Respond to of 306849

>>Repubs won't roll over, Dems won't yield, state is gonna run out of cash in February.<< let me fix that for you. CA is one of the highest taxed states in the nation. the state is managed like GM. or should i say mismanaged. tax revenue is not the problem, it is unbridled spending that is the problem. no amount will ever be enough for CA style liberals and their new buddy, chief girlie man ahnahld. only in CA does a "cut" mean an increase over last years spending. ps - revenues are up well over 30% in 6 years... they just spent about 40% more! pss - this quote is apropos to CA liberals... A liberal is someone who feels a great debt to his fellow man; a debt he proposes to pay off with your money. -G Gordon Liddy