Like Real Estate Penthouse Forum for bears - a comprehensive must read (NYT)

I beat you, sniper - by about 13 months:

http://www.streeteasy.com/nyc/talk/discussion/3367-mandatory-reading-parallels-to-1988

as far as i can see you linked 1 article in there. this link has headlines and summaries from every year of the 80's.

stevie... god----it, just admit you are wrong to sniper and move on already! :)

it's apples to oranges

We have very short memories, and will always manage to come to new levels of stupidity.... we'll just have a new set of rationalizations.

In my high school economics class, someone actually tried to claim that because of the 87 crash, we "knew better" and would not make the same mistake again.

Tech boom - "its different because its a new paradigm"
RE boom - "its different because they aren't making any more land [insert any stupid manhattan rationalization here]"

Only thing different is we have new ways of saying "its different" when it never really is.

I posted a really good piece discussing the history of home ownership promotion in this country on the links to important economic news thread. fascinating stuff.

Its not like only Washington did this.

Its the exact reason property taxes were (up until recent increases) dirt cheap in the city, and income taxes higher than most states (on top of the highest state income tax).

"I posted a really good piece discussing the history of home ownership promotion in this country on the links to important economic news thread. fascinating stuff."

can't find it ( I really did try)

no problem, we bury a lot of stuff there. it's entitled obsessive housing disorder, or some such.

http://www.city-journal.org/2009/19_2_homeownership.html