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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Michael Bakunin who wrote (60286)	5/21/1999 8:35:00 PM
From: Fred B.	Read Replies (1) \| Respond to of 132070

Michael, LOL. I didn't mean to throw all of them out!! The reason I said throw NYC and San Fran out is because the rise there is market related. It is the effect not the cause (unlike the Japanese bubble). LA is a great barometer though. Although prices have risen considerably lately, the market is still nothing even close to the conditions in pre '92 recession. Now, you want a bubble. That was a bubble. People were sleeping outside sales offices for weeks to make offers above the ask price. As to Houston, you should obviously know more since you live there, and maybe I need to change my sources. But , except for River Oaks which has always gone up, I don't see a bubble developing. There are rental homes in katy that went for 70K in the 80s and are still going for 70K. I wouldn't get worried about a "bubble" until they start calling Memorial "the next River Oaks" and FM149,the next great corridor to the north again! Fred P.S. I apologize for not responding to the rest of the posts.(same with all the posts from everyone else, the civilized ones!! )I am running way behind. I will revisit soon.