Quote:
Originally Posted by ranchlandsselling
To say that it will happen is very long sighted too! It may never happen as any of the nay sayers have predicted but for an entirely different reason in some future day.
It's like fan who's always saying the flames suck and are going to lose. Sometimes they're right and it makes them feel good about themselves but if they're wrong it's not a big deal because the people that weren't wrong didn't lose are still happy and forget about the "they suck" fan.
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You might be right....maybe real estate crashes are things that happen to people in other countries at other times; crises do not happen to us, here and now. We are doing things better, we are smarter, we have learned from past mistakes. The old rules of valuation no longer apply. Unfortunately a highly leveraged, housing market can unwittingly be sitting with its back at the edge of a financial cliff for many years before chance and circumstance provoke a crisis of confidence that pushes it off.