What was the phrase… In God we Trust, all others bring data? I am too lazy to use the search engine.
mgu have you spent much time reading about the fraudulent activity on the bubble tracker? In many neighborhoods “especially Murrieta, home of the giant scam” many houses probably base comps on all the sham sales that went on. This falsely inflated the market with comps out of line with the local economy. If they scamsters added 140K to the sale, and the neighbor (Joe Zinfandel err Joe 6-pack) now think their home is also the same value, who is to say they really lost 140K. Well perhaps put in a better light, the 140K they thought they gained was not due to market forces. Remember many of the nurses in the Murrieta scam had multiple homes, so it’s less hard to feel sorry for them.
Also, as an individual investor, if you want to get into the stock market on margin you have to put a little skin in the game. In housing you show up with nothing down, state your income, and wind up with an 800K loan.
