Mango
SoWal Insider
Yes, it's called fraud! ;-)
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Buy and bail
- Thread starter 30ashopper
- Start date
Yes, it's called fraud! ;-)
SHELLY
SoWal Insider
Miss Critter
Beach Fanatic
Based upon the "value" of her many erroneous predictions (my personal fave, calling the then-impending real estate bubble "fictitious"), I think she was asking in earnest, and not rhetorically. Maybe shelly can give her a call to help her out.
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SHELLY
SoWal Insider
My reply to "Babs the Expert:" When is it NOT a good time to buy? 2005??
Business Week Interview: March 2005
Q: First things first -- bubble or no bubble?
A: Of course there's no bubble. I think we're just getting started. But I don't expect anyone to believe me. There are so many more buyers than there are homes to sell. Bidding and overbidding are the norm of the day. So it's going to take a lot to slow this market. Even if it does -- which I don't see the signs of -- it will still slow down slowly. That's not what a bubble does.
I think the bubble theory is nothing more than an intellectual expression of people's typical worry that good times can't last forever.
When your marriage is going well, you worry there's a problem on the horizon. I think it's more psychological than fact. Q: So what's causing the shrinking supply and begging demand?
A: Seven out of 10 deals are going for asking price or above. I think it's a much scarier world that we live in. When kids are scared, where do they run? They run home. People are staying home more. I think it's really reassuring for people to know they own the walls around them. (What a load of tripe!)
People have also become more distrustful. People don't trust the government, they don't trust Corporate America, they don't trust the stock market. (Now people don't trust Realtors or Mortgage Brokers.) They trust their house. It's psychological. People like to feel they can control a little piece of their destiny. (Unfortunately, the bank owns and controls their little piece of destiny.)
http://www.businessweek.com/bwdaily/dnflash/mar2005/nf20050315_6227_db093.htm
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