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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Elroy Jetson who wrote (23342)2/11/2005 4:56:12 PM
From: John Vosilla  Read Replies (1) of 116555
 
Many living in the heart of the real estate bubble are inventing new forms of insanity.

I'm busy talking down builders with the hyper-optimistic delusions of their own. It's like the cocaine trade, except the drug dealers are as euphoric as their buyers. At least the builders pay me for advice.

Were any of these builders in the game before the last bust 15 years ago? And if they were do they actually think this time is different? I remember by 1994 everyone despised real estate but especially the builders and bankers most of which either went bankrupt or to prison, left the country or chose another profession.
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