Denial is Not Just a River in San Bernardino

Submitted by Rich Toscano on November 27, 2005 - 11:12am

This LA Daily News article about the San Bernardino housing market comes tantalizingly close, but in the end is unable to connect the dots. Their logic follows:

  1. California has been in a boom/bust cycle since the 80s (close enough, though the cycle actually began in the 70s)
  2. We are currently near the end of the boom part of the cycle (absolutely right)
  3. This boom has been the "biggest equity generating run-up ever" (absolutely right)
  4. Conclusion: prices won't go down, they will just stop going up so fast (what now????)

How they combine 1, 2, and 3 to get to 4 is, as you might imagine, entirely beyond me.

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