Doesn’t suprise me at all. The BS flew for the majority of a decade. I have no doubt that a majority of the people are comparing current prices to bubble prices and are thinking they are getting a deal. Lessons like “re is a great investment” are not unlearned, even if they were untrue in a short term sense most people were ‘investing’ under.
Include a few smoke blowing agents, alot of denial, alittle hope, a press that writes like 5th graders (up is good, down is bad), historically low interest rates, terrible choices in other investments (30 year bonds anyone???) and the fact that for the first time in recient memory buying a house in about half of zipcodes isnt financial Russian roulette and I am sure alot of people are out buying. Even if they know you are right in that prices will continue to fall.
It still isnt the same thing as believing that things are going back to 2005 the day after ‘you’ buy.
