Personal theory, Rich may have liked watching the market go down while it did, and of course seeing a recovery is also interesting up to the normal level, but then it keeps going. Somehow it seems distasteful that the same scenario could play out again. But it takes a lot of work to show why 2015 is different from 2005.
Higher population, tighter lending, lower energy prices, lower interest rates.
Makes for a mix which any rational economist may find annoying and unpredictable, but when all’s said and done, the Fed is afraid to raise rates, the stock market keeps going, there is not enough new supply and more and more folks both legal and illegal are coming into Cali.
So, no I don’t think Rich is bored, I just think it’s hard for him to be excited about seeing things develop exactly the way they are because it doesn’t quite fit with the world view. Just thoughts.
