[PEN-L:33262] RE: Re: Re: Re: RE: Re: How Much Housing Credit Is Too Much?

["Brown, Martin - ARP (NIH/NCI)" <mbrown@xxxxxxxxxxxx>]

The Washington Post reported a while ago that there has been a slump in the
market for $1 million plus McMansions in the DC area.

On a another topic, Jim Devine turned out to be wrong about Doonesbury on
Iraq.  If you followed the episodes for a few more days it turns out that
the Iraqi plant manager is telling the truth, that the radioactivity in the
yougurt (I think that's what it was) comes from milk from cows eating grass
contaminated by radioactive contamination from the Gulf war.



-----Original Message-----
From: Michael Perelman [mailto:michael@xxxxxxxxxxxxxxxxx]
Sent: Thursday, December 19, 2002 11:51 PM
To: pen-l@xxxxxxxxxxxxxxxxxxx
Subject: [PEN-L:33256] Re: Re: Re: RE: Re: How Much Housing Credit Is
Too Much?


The WSJ has been having pieces about the incentives sellers of high end
houses are having to give.  One of the best indicators of an impending
bubble burst would be the length of time required for sell a house.
During the high bubble in San Francsico, houses would sell at a premium as
soon as they were listed.  I don't think anything like that is happening
now.

So even if prices are holding, you can have considerable weakness in the
market.

 --
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx