“2) Why do people have have such visceral negative reactions to dropping house values? I would guess that only the people who overpaid do. To me, overpaying in San Diego would be anything above 2000 prices.”
married to their belief?
they bought into the “real estate always goes up” nonsense and dont want to admit they were wrong, made a mistake or got duped.
investors who are smart know when to cut and run, know when to cut their losses. they’re objective and profit driven, not ideologically bound and gagged.
if things continue on the current trajectory and prices dump below 80’s levels, man, the bitching and moaning you’ll be hearing…
