- This topic has 48 replies, 22 voices, and was last updated 6 years, 2 months ago by phaster.
March 28, 2017 at 4:52 PM #22308March 28, 2017 at 7:54 PM #806155moneymakerParticipant
I too am a home owner, however I don’t plan on selling anytime soon, so the run up has no effect on my personal outlook.March 28, 2017 at 9:37 PM #806156zkParticipant
[quote=sdgrrl] I remember real estate agents saying Rich and us were clueless. Pretty sure they lost their shirts.
I remember George Chamberlin (money “expert” on local media) insisting over and over again that there wasn’t a bubble and that prices couldn’t and wouldn’t fall. I remember the contortions of logic he used to support his theories. Then, after the bubble popped, he blamed it on the media. Seriously, he blamed the drop in home prices on media coverage.March 28, 2017 at 10:09 PM #806157
“No! No! No! Bear Stearns is fine!” Jim Cramer.
One week before it went under.March 29, 2017 at 12:00 AM #806158gzzParticipant
I waited until 2011 to buy my first house because of pricing issues and read this site then as I waited for the bubble to burst.March 29, 2017 at 6:30 AM #806159AnonymousGuest
[quote=zk]Then, after the bubble popped, he blamed it on the media. Seriously, he blamed the drop in home prices on media coverage.[/quote]
That sounds familiar.
Blaming “the media” should result in an instant loss of all credibility. Unfortunately it’s still a very effective cop out.March 29, 2017 at 6:47 AM #806160
This isn’t going to be hijacked by politics. Start your own thread.March 29, 2017 at 6:49 AM #806161The-ShovelerParticipant
IMO there are two main reasons we had the big housing crash.
1) Widespread corruption in mortgage underwriting.
2) Over Building mainly fueled by number 1.March 29, 2017 at 8:05 AM #806162AnonymousGuest
[quote=sdgrrl]This isn’t going to be hijacked by politics. Start your own thread.[/quote]
LOL, you think you can separate financial bubbles and politics?
The same tactics are being used to fuel the next one.March 29, 2017 at 8:38 AM #806163
Your statement added nothing meaningful to the thread. It was a jab at the current president and had nothing to do with what occurred leading up to the pop.March 29, 2017 at 8:56 AM #806164biggoldbearParticipant
Came to this site in 2007. While I also predicted a crash during the run-up, I made an arbitrary valuation judgement that when SFH in Mira Mesa got below $400k, it was time to buy. We had an agent, went on a couple showings. Thankfully, I tried to find some data to backup my assumptions, this site gave me everything I needed, and put on the brakes. We waited until Fall 2008, though prices were still dropping, they were within historical norms and it was a good time for us. 5 years later, we were able to sell with a good profit -> down payment to our forever home.
Thank you Rich and all the Piggs!March 29, 2017 at 9:13 AM #806165SD TransplantParticipant
Indeed some of the old threads are awesome. If you don’t remember some fun conversations (i.e. poway seller), you aren’t an old pigg 🙂
Anyway, I did purchase my 1st house because of this blog at the right time. There were many lessons learned, and I couldn’t be a happier pigg.
Thank you Rich & old piggsMarch 29, 2017 at 9:43 AM #806166Rich ToscanoKeymaster
[quote=sdgrrl]I remember real estate agents saying Rich and us were clueless.[/quote]
I remember this part very well… it wasn’t just real estate agents though! 🙂
I have some pretty comical hate mail from back in those days…March 29, 2017 at 9:56 AM #806168AnonymousGuest
[quote=sdgrrl]Your statement added nothing meaningful to the thread. It was a jab at the current president and had nothing to do with what occurred leading up to the pop.[/quote]
I never mentioned the current president. That only happened in your mind.
My statement was based on the observation that human nature does not change.
These economic events are much bigger than one person.
Enjoy your time reading internet posts from ten years ago.March 29, 2017 at 9:59 AM #806169FlyerInHiGuest
There was a Vegas developer who blamed the press. He took out full page ads to blame the press. Needless to say, but I’ll say it anyway, he went bankrupt.
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