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Many people on both Wall Street and Main Street, apparently never dreamed that home prices might fall

Started by stevejhx
almost 18 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
The obituary of a bank: http://www.nytimes.com/2008/07/29/business/29indymac.html?ref=business and a business model. Too bad so many people on this board never dreamed that Manhattan property prices might fall, either. They are mistaken.
Response by EddieWilson
almost 18 years ago
Posts: 1112
Member since: Feb 2008

Folks will always believe what they want to believe. We have a clear crisis going on in NYC, and folks at the same time thinking their LIC condos will go up this year. Same goes for every bubble pretty much ever.

Doesn't matter how stupid it seems, there will always be deniers and rationalizers.

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