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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Mike Johnston who wrote (51798)1/27/2006 5:09:51 PM
From: Bonefish  Read Replies (1) of 110194
 
RE:"There is nothing normal about housing prices tripling while average income goes up 15-20%."

People who have benefited from the runup WANT to believe it's normal. It's stroked their ego. They revel in the idea that they were smart and the people who rented from them are not so smart.

They will swear that anyone can live the American dream.
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