[quote=sdrealtor]CAR
There are always posers in good times and bad. Are there more now than any other time? just dont dont see more.
The hedge fund gal is living in a house with her sencond husband in a house owed free and clear on Balboa Island in Newport Beach. She could have ZERO money and it wouldnt matter. you are grabbing at straws hoping upon hope.[/quote]
Forgot to answer your question here.
Yes, I think there are more poseurs now than there were 10 years ago. We’ve just lived through the largest credit bubble in history, where almost anyone was able to get access to hundreds of thousands of dollars, without having to show whether or not they were capable of paying it back. Lots of money was unleashed, and many, many people took advantage of the loose credit conditions to make themselves look “rich” (so many people actually believed that having access to all that credit made them rich).
Yes, I belive *many* people fell prey to the credit bubble, and we are nowhere near done purging the excesses that were a direct result of the entirely unsustainable credit bubble.
