Personally, I don’t see any reason to harass realtors. The real estate market has taken an odd course, and it doesn’t need my help in correcting itself.
What the realtors will always be able to argue is that people like us have been saying for years now that the bubble is going to burst, and it hasn’t happened. Of course, they are right about that. I would never have imagined that the bubble of 2003 was not only not going to burst, but that it would continue to expand at a record pace. I told people then that investing in inflated CA real estate was nuts, and two years later, people who did that and sold made a lot of money.
Rather than talking about bubbles, I think it’s more important to talk to people about not buying houses they can’t afford. Maybe the bubble won’t burst and prices won’t drop, but you know damn well they aren’t going to continue going up like they have, and people shouldn’t get themselves into lending situations where they NEED that to happen. We need to dust off the old guidelines of 20% down/30 year fixed/mortgage no more than a third of your income and remind people that until a few years ago, this was practically law.
