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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MulhollandDrive who wrote (26050)12/16/2004 7:11:43 PM
From: GraceZRead Replies (2) of 306849
 
According to my sources, there was much merriment and back slapping at the annual party of one major homebuilder a few weeks ago. The principals were bragging about how they owned more land than they'd ever owned in the history of the company and were ready to pave a three state region from one end to the other with their houses. The last time these guys were this happy was 1989 a year before the collapse. Of course, few remain in the upper ranks that were around then so I expect the newbies have to learn all by themselves what happens when the phone suddenly stops ringing.
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