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


To: Oblomov who wrote (36137)7/24/2005 4:17:38 PM
From: John VosillaRead Replies (1) | Respond to of 306849
 
"The greatest mistake that intellectuals make is to extrapolate current trends indefinitely. Intellectuals trust reason, but trust even more their ability to put reason above emotion."

I would totally disagree with that. It is the dumb money uneducated sheep that drive manias and bubbles to extreme because they extrapolate the recent trends into the future. The average purchaser of a California home today expects appreciation of over 20% per year for the next decade.<g>