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To: Lizzie Tudor who wrote (40291)	5/11/1999 11:47:00 AM
From: IceShark	Read Replies (1) \| Respond to of 86076

Michelle, I think it may be even worse than you describe. The last round in CA people had 100% mortgages that they only had to pay interest on. Today, there are a bunch of 125% loans out there. Now that could be real ugly and make people move a lot quicker in running away from the house.

To: Lizzie Tudor who wrote (40291)	5/11/1999 2:00:00 PM
From: Terry Whitman	Respond to of 86076

Michelle- There are certainly bubbles in many local real estate markets. SF doesn't surprise me. Hell, they charge you to breathe in that town. Don't you have to pay toll to cross the street there? I wouldn't buy into urban real estate too much. It has already inflated quite a bit. As more and more folks work out of their homes- They won't need to live in urban areas. You are right about recession effects- many will lose on those big mortgages. But- That's when the Fed printers will crank it up even more. A 7K mortgage aint so bad if you're making 300K a year. <ng> Inflation will be toughest on those without jobs, or on fixed incomes. The rest will do OK. The shrewd, who leverage large amounts into reasonably priced land and commodities before the interest rates rise will do the best. Of course in the new pair of dime- this is ALL WRONG. Just buy sh*ttrash net stocks and hold. <g>