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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (36010)	7/22/2005 10:39:54 AM
From: GraceZ	Read Replies (2) \| Respond to of 306849

Elroy is a very good poster and I respect his opinion. As Julian Simon observed about the doomsters he's always battling: For some reason he could never comprehend, people were inclined to believe the very worst about anything and everything; they were immune to contrary evidence just as if they'd been medically vaccinated against the force of fact. Furthermore, there seemed to be a bizarre reverse-Cassandra effect operating in the universe: whereas the mythical Cassandra spoke the awful truth and was not believed, these days "experts" spoke awful falsehoods, and they were believed. Repeatedly being wrong actually seemed to be an advantage, conferring some sort of puzzling magic glow upon the speaker.

To: tonto who wrote (36010)	7/22/2005 11:18:50 AM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

I totally agree. Too me there is no doubt in many markets this is the greatest housing bubble of all time as I type this. The flip side is my RE investments have been very good to me. While I totally agree with what Elroy articulates here it is obvious his timing was way off. Flip side is Tradelite, though having been on the right side of the fence, fails to ever acknowledge how bloated housing prices have become in many markets and what impact socialized engineering has played in the evolution of this bubble for the ages. I also do think negative folks who have never really been owners or investors of RE would always seem to take the doom and gloom road no matter how over or undervalued RE might be in their market. Many people never see an opportunity even if it is right under their nose. Always interesting perspectives on this site from many cheerleaders hoping for the crash. Made up a of a lot of younger folks in California hoping for the 40-50% drop. My thought these days is if everyone is either so bullish or so bearish the end result will probably be a different road than most are betting on.<g> thehousingbubble2.blogspot.com