I love how people think foreign money is going prop up the market. There are very few places on this earth where there really is a scarcity of land coupled with significant international demand. London is one of those places. Santa Monica? What? Folks, there are many, many miles of coastline between Santa Barbara and the border. Mr. Mumbai with his pockets full of cash has a lot to choose from.
I get pretty tired of hearing bears described as bitter folks left out of the money party. Sigh. There is nothing bitter about me. Sure, I’ve been very conservative in the stock market this year and missed some earnings. However, I still made money (shorting New Century last fall sure made me feel like a hero :)). Had I kept my house (sold 05), my net worth would be down 20%. Instead, my net worth is up over 20%. I sleep very well at night, thank you very much.
