It is funny, the LA Times guy sold in April of 2005.
I was cleaning my office and came across a LA Times front page section I had saved in May of 2005.
Right there on the front page was an article:
“It’s Not a Bubble Until It Bursts”·Although ignoring real estate bears has been profitable lately, doom is again on some lips.By David Streitfeld, Times Staff WriterThe chief economist for the Mortgage Bankers Assn. is worried enough about the torrid housing market to get out of it.
"I'm going to rent for a while," said Douglas Duncan, who expects "significant reversals" in regions that have enjoyed strong home price appreciation, including Washington, D.C., Florida and California. He plans to sell his suburban Washington home, which has tripled in value since he bought it a dozen years ago, and move into an apartment.Duncan is among a multitude of experts and consumers across the country debating the possibility of a housing bubble — a condition where prices have risen so far out of hand that they eventually crash
