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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ild who wrote (24841)10/26/2004 9:02:33 PM
From: Elroy JetsonRead Replies (2) of 306849
 
Every real estate crash I'm familiar with has occurred with a quiet wave of realization, which reminds me of a poem written by Carl Sandberg.

The fog comes
on little cat feet.
It sits looking
over the harbor and city
on silent haunches
and then moves on.

When the fog of confusion lifts, it leaves very quiet home owners. Living on very quiet streets, decorated with the periodic signs advising "For Sale by Bank".
In Los Angeles, restaurants were almost empty on Saturday nights and streets were filled with far fewer cars.

As Mark Twain said, "History doesn't repeat itself but it likes to rhyme." There will be some new twists, but it will be very similar.
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