I saw that comment earlier today. I came this close to posting a retort to that one. Then there was the moron who was telling people that if they only bought AAA rated properties they’d be okay and that his 2003 purchased AAA property hadn’t lost anything yet. Talk about clueless. What’s he going to tell people next year when the pricing skips the 2003 levels and goes straight to 2002 levels?
There really are people who think the weather (and the Superbowl) will support this price structure all by itself.
BTW, I got to use the term “e-balling” (a phrase I learnt here) in conversation last week. I was teaching a CE course for appraisers on Saturday and was ranting about some of the trash-talking bulls who pontificate on the comments boards at signonsandiego.com. As it turns out, that phrase was too hip for the room – I had to explain it.
