NetNews Usenet Archive 1993 #3/NN_1993_3.iso/spool/can/politics/11701

Internet Message Format | 1993-01-25 | 1.6 KB

Xref: sparky can.politics:11701 soc.culture.canada:10380
Newsgroups: can.politics,soc.culture.canada
Path: sparky!uunet!utcsri!helios.physics.utoronto.ca!alchemy.chem.utoronto.ca!golchowy
From: [e-mail] (Gerald Olchowy)
Subject: Re: Deficit, Deficit, who's got the Deficit? was: NDP "communism?"
Message-ID: <[e-mail]>
Organization: University of Toronto Chemistry Department
References: <jstewart.727989524@cunews> <[e-mail]> <jstewart.728019346@cunews>
Date: Tue, 26 Jan 1993 04:18:24 GMT
Lines: 20

In article <jstewart.728019346@cunews> [e-mail] (John Stewart) writes:
>In <[e-mail]> [e-mail] (Gerald Olchowy) writes:
>>Housing supply caught up with housing demand...the speculative and
>>inflationary real estate boom was not healthy for our economy and
>>it is one of the reasons why the recession was so painful and the
>>recovery is so slow.  Bubble economies aren't sustainable...they
>>eventually come to a deflationary crash.
>
>I don't think we have a stable real estate market yet.  Lower interest
>rates have increased sales of starter homes but the market for more
>expensive houses is still pretty soft.  If interest rates increase (a
>definite possibility) it could trigger further declines in the value of
>real estate.

Technology (and crime) are making big cities obsolete...the big
deflation in real estate due to technology is yet to come...how's
that for a apocalyptic prediction.  If war doesn't get the value
of your house, the personal computer with a modem will.

Gerald