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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (28260)3/17/2005 5:41:18 PM
From: Elroy JetsonRead Replies (1) of 306849
 
This statement by James Stack contradicts all of the experience from the past in regard to bubbles. Certainly a "reason" can be found at the time, perhaps people of the time may seize on the the weather had been cloudy for several weeks or some other fatuous item, but there is rarely any substantive cause and effect.

"Bubbles do not pop simply because the prices get too high. It takes an external event to start to let the air out of that bubble, and in many cases that comes from central bank policy, raising interest rates."

History actually demonstrates that bubbles end when you run out of buyers.
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