Crisis Or Opportunity - The Truth About The Arizona Real Estate Market

[foihts...@yahoo.com]

The present real estate market is acting just as it should on the
heels of the greatest real estate boom in the last 40 years. There is
a long way to fall to get back to "normal". This falling back into a
normal market, coupled with the contraction of the sub-prime mortgage
market has the real estate consumer, and many homeowners in a state of
fear. The various media continue to depict a very grim picture of the
markets in general without distinguishing between the national market
and local markets, such as the Arizona real estate market, with
factors unique in the ways of population growth and investor activity.
I have seen numerous articles referring to the sub-prime debacle as a
global crisis. That may be taking it just a bit too far.
The truth is, there is no geopolitical significance to recent events
in the U.S. real estate market and the sub-prime crisis. To rise to a
level of significance, an event -- economic, political, or military --
must result in a decisive change in the international system, or at
least, a fundamental change in the behavior of a nation. The Japanese
banking crisis of the early 1990s was a geopolitically significant
event. Japan, the second-largest economy in the world, changed its
behavior in important ways, leaving room for China to move into the
niche Japan had previously owned as the world's export dynamo. On the
other hand, the dot-com meltdown was not geopolitically significant.
The U.S. economy had been expanding for about nine years, a remarkably
long time, and was due for a recession. Inefficiencies had become
rampant in the system, nowhere more so than in the dot-com bubble.
That sector was demolished and life went on....

http://groups.google.com/group/szdrealestatel