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----- Original Message -----
From: "The Doctor" <droex@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, September 21, 2000 1:08 PM
Subject: [RT] Re: Oil inflation
> In the greater Chicago area .... not the city itself .... prices are
> relatively unchanged for the last decade. The city itself has gone nuts
> with the bull market, but you can't give a house away in many of the
> burbs.
NW: Real Estate can be a very localized affair. The norhwest Chicago
suburban corrdor has
been hot, hot , hot. Have you been to Hinkely lately? Ten years ago, it
was one filling station and a corn field. Now its a super mall and tons of
development. The entire area is similar. I guess you picked the wrong
suburb?
Cheers,
Norman
>
> Gary Fritz wrote:
>
> > > Huh ? Yes, check the dismal scientist site, prices did rise over
> > > 15% in California last year. Over 40% in the San Jose area. If
> > > that aint RAMPANT asset price inflation, I sure don't know what is.
> >
> > James. Did you READ what Dennis wrote? Yes, housing inflation in
> > the Bay area is insane. But the Bay area is an ANOMALY. Look at the
> > Dismal Scientist site again and you'll see San Jose has the HIGHEST
> > rate of housing inflation in the country. (If I remember right,
> > anyway. The site seems to be down now.)
> >
> > As Dennis pointed out, the AVERAGE housing inflation rate, across the
> > country, is closer to 3-5%. Which is NOT "RAMPANT asset price
> > inflation" by any stretch of the imagination.
> >
> > If you have 100 people and ONE of them has a temperature of 106 degF,
> > do you slap all 100 of 'em into the hospital? Of course not. And if
> > ONE small area of the country has housing hyperinflation, should you
> > expect it to appear across the entire country? Of course not. Sure,
> > it's possible the Bay area's "fever" could spread, but that would
> > require fundamental changes in the economy around the country, and
> > even then it's hardly likely to spread in the same degree as found in
> > California.
> >
> > If the entire country was in the 15-40% range, that would indeed be a
> > major problem. If isolated pockets are in the 15-40% range, that is
> > a problem ONLY for the people who **CHOOSE** to live there, and it
> > should not be a driver for national economic policy.
> >
> > If you don't like the housing inflation in the Bay area, go live
> > somewhere else. But quit calling people stupid because they don't
> > think the Bay area is the only thing in the whole freakin' country.
> >
> > Gary
>
>
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