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To: IceShark who wrote (40294)	5/11/1999 11:53:00 AM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 86076

Ice, well yeah this is a puzzling thing for me because I know housing is a traditional hedge against inflation but my entire experience is the opposite... Ca had tremendous housing inflation in the 80s (a "non" inflationary period), then a 30%+ decline in the last recession, now back to where we were and more. It would be one thing if people actually owned their houses outright but you are correct almost everyone is so highly leveraged that anything goes wrong and they will walk away... imo houses will surely decline 40% here in a downturn. Plus the banks push equity loans hard and then people go buy ebay stock with it.... <gg> Hey wait a minute... if I wait a while maybe I can buy a house on ebay