As for personal wealth, I think it’s important to take note of how much of that wealth is in the form of RE money or Stock money that is subject to catastrophic losses. Our region has not created that many businesses that are not related to RE or directly benefitted from RE equity.
Hi Bugs,
I find that I agree with most of your posts, but my experience with you last comments is a bit different. I am involved with many business groups here in town, and very few have their money tied to RE at this time. Again, “at this time”. I know this is not a large cross section, but it does include about 200 people. They made their wealth outside of RE, and sold off the RE assets in 2004, 2005.
There is a LOT of money in other investments that can be moved to RE if a 50% price drop occurred in LJ. Yes, the stock market can have problems, but the investments are diverse. If the price of LJ properties drops like jg says, then those looking for a primary residence are going to be up against investors again as the rent proposition gets better.
On the issue of sdr, I have found his posts useful, and have never felt like he was trolling or forcing BS on the group in any way.
