I enjoy reading your bearish statements and those that others bring as well.JWM has been saying for as long as I can recall “why don’t people get this?” I think I was using the term “chicken little” for the really “negative” types at that point even though I was one of the most bearish ,especially for of the RE licensees. My apologies JWM(if you are reading).
My guess, many people still think it is about “me”. My house value, my chance to time the market ect. ect. Something about forests and trees. I don’t understand the level of intellectual investment in the thought that this is going to be a rational correction and will go according to some schedule. I am not talking about people in the street either. Some decent percentage of people on the bearish blogs seem to think this way too. That seems to be changing to though,. Maybe we are just tracking the normal change in pyschology through a cycle? IMHO it is way too early to take it for granted that anything close to normal is going to mark the course of things to come. I definitely don’t think we will have an instant replay of the last bust. That would be nice though.
I wonder if there is still a lot of custom building going on around your area. It appears the pace is pretty good here in Jamul. If you recall I told you once that Fallbrook and Jamul have similiarites. My wife asks me to explain all the building in light of the doom and gloom. I told her that I think it is a mixture of the last credit bingers and folks that do things the “sustainable” way, on land they have owned for a long while. Not sure though.
Good job on the football coaching.
Best wishes
