I think most Piggs were actually worried about the press misleading people. It pains me to see friends and coworkers buy houses they can’t afford because they know that “real estate only goes up,” “they’re not making any more land,” or “real estate is always a safe investment.”
In the past, it would have been nice for a newspaper to have been a little more forthcoming about the risks of buying overpriced houses. Now that the newspapers are actually acknowledging that purchasing overpriced assets can cause real economic pain, there is hope that some of my friends and coworkers will “get it.”
