[SLHetal]

My plans continue but the belt tightening continues too. I live in ONE of the epicenters (South Florida) of the real estate downturn, which some say is somewhat responsible for our current financial debacle. If what we are seeing here in Florida spreads to other markets....well "Katy bar the door" because it's gonna be pretty bad for a while. I was in Dallas during the S&L crisis, so I've seen some financial and real estate carnage while working for Ron Perelman and doing the first Southwest Savings Plan deal. Since the media is focused on the housing downturn and everyone wants to know where the bottom lies (so we can know when the upturn will come), in my opinion it's going to come when the values of homes reach the level where people can afford to buy them again BUT the buyers will have to get mortgages that require 10%+ down payment and a 6%+/- fixed rate. That may be some time from now. Here in South Florida we see a further erosion of home values in the neighborhood of 30%....we've already lost 20%+/- so far. Recession?? mmmm, could be.
Sam