A place for residents of Marin County, CA and others to express their views regarding the real estate bubble and in particular the Marin real estate market
Wednesday, December 14, 2005
Someone sent me this quote from the bookManias, Panics, and Crashes by Charles Kindleberger that is next on my reading list:
"In the ruin of all collapsed booms is to be found the work of men who bought property at prices they knew perfectly well were fictitious, but who were willing to pay such prices simply because they knew that some greater fool could be depended on to take the property off their hands and leave them with a profit."
Sound familiar? Has Marin run out of 'greater fools' yet?
The contributors to this site may, from time to time, hold short (or long) positions in mentioned and related companies.