Idiot!!!!
Wow, I’m reeling. At first I thought he was probably just throwing out a spin but I think he actually believes it. The numbers he quoted in DC, where did he get them? He seems to think there are over 400,000 people wandering around dazed and confused as they look desperately for a home to buy. I think his 400,000 simply reflects people who work in DC but don’t live there. IE – commuters. I feel quite confident they tuck themselves in, nice and cozy, every night in their wildly expensive, about to be less expensive, housewithatwohourcommute.
My highlights:
“Sometimes I feel like the lone voice of reason crying out in the wilderness” -as opposed to squeeling, it seems.
“Fact: There are “pockets” of over inflated real estate” – He is living in a “pocket”
“Whether renting or buying, there is an automatic necessity for the ownership of real estate — either by a homeowner or an investor” – I didn’t know that investing was a necessity
“If you’re worried about some bubble, or slow down, or something that’s evil, just put yourself in any other market,” he said” – translation, Don’t worry, be happy. If it gets too evil for you, just stick your head in the sand.
“The vocabulary being used by journalists is leftover from when the stock market inexplicably rose in value when there was no reason but hype driving the market” – He doesn’t seem to understand that descriptive vocabulary doesn’t turn stale, like old crackers.
“In hot real estate markets, there’s no hype.” -Hmmm.. TV shows like “Flip It” and your dumb neighbor who just made 30k flipping could not possibly have an influence.
“If you want to quell the fear — build more houses” I don’t even know what to say about this one. I have a headache.
