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Thursday, March 02, 2006
Bad News
Wow! The news is only getting worse. Good thing there is no bubble according to all the industry "experts" otherwise we might have to take this news seriously.
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4 comments:
Really touchy subject:
Standing in line with a friend, I casually mentioned that the topic of the day use to be “how much your house went up in value” now it’s “is there a bubble?” and it seems most of the news is turning negative.
The lady behind me said, you must not own, I said not anymore for me it didn’t make sense. She said what makes you think there is a bubble, I said I don’t know what to think since you can’t trust a realtor anymore, you can’t trust a lender, appraiser, the media, the government, I don’t know what to think. But I do know that there is mounting data and more negative news than positive and it’s not easily dismissed, that’s why you jumped in on my conversation.
She apologized and said she was just sick and tired of everyone talking about the bubble and that’s only feeding it. I said everyone was feeding it on the way up, it works both ways. She said she didn’t follow the news and maybe she should look into it.
I could feel the tension in the air around me.
But will there be cake for them to eat?
anon -
Where was that?
Marin? City? East Bay?
I really like these first hand accounts.
I have my "Mr. Housing Bubble" T-shirt all ready for summer 2006 weekends in the neighborhood. I got it last summer and only wore it a few times - no remarks that I could tell.
I'm sure it will be different now.
you can’t trust a realtor anymore, you can’t trust a lender, appraiser, the media, the government... -anonymous
Exactly when could you trust the aforementioned? This is nothing new. Like any investment/major purchase (however you classify RE), you have to your own due diligence, not listen to those with vested interests.
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