They really believe that RE is going up. Except Roger Showley – the business writer, who has covered the downturn in housing.
A guy who sells materials for commercial construction jobs, and travels widely and looks at real estate in many of the cities he visits, told me that I should use the money I made selling my house to buy beach condos in Florida, because they aren’t making any more land, and prices will only go up.
I started to laugh, because I thought he was joking. His wife said he was serious. He repeated, they are not making more land. I told him the Japanese thought the same thing, and I would e-mail him some on the topic of the island of Japan and their real estate bubble which took 18 years to burst. He hadn’t heard of Japan and doesn’t like to read.
Okay, the writers at the media are like this guy. They believe what the realtors tell them, and they don’t like to read.
