I was very young and bought my first house in 1987 (thanks to generous family). I sold it for profit and bought a nicer house in 1989. In 1990, I watched the market go down, down, down.

I was young and cocky back then and thought I could keep on upgrading my way up to the ultimate house without doing much work. I understand well the psychology of the recent buyers.

Well, I lived the 1990s downturn, and learned my lesson. I’m glad I learned early in life. I feel sorry for the people who are learning at age 50.