He even got angry? Not entirely surprising. Early this year a young couple told me of their plan to invest in RE property in the CA desert (somewhere between L.A. and Barstow). They probably had heard of all that people making a killing in RE. I tried to convey to them, in a friendly way and not using direct language, that the RE party was over, that prices had shot up to ridiculous levels, and that we were about to start a downward trend in prices, like the one we saw following the last boom. Now I think that, in typical blame-the-messenger fashion, they dislike me for what I told them.
