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In Greenspan's testimony last week he did admit to the need to raise taxes to get the current deficit under control. I don't think the current administration will do that, but I wouldn't be surprised if there was some type of taxation change that affected RE. Only because so much of this...

Big differences between crash in late 80s and today Late 80's TRA 86 - killed real estate investors Interest rates on underlying RE were much higher, so debt service was bigger Mortgages less flexible - Fixed rates and 1yr ARM's Bottom line - if you experienced trouble you had much less...