More Bubble-Related news, commentary, and research to ponder....
1. How to Survive the Coming Bubble - Or, should I say, "Coming Burst of the Bubble"? A very pointed commentary on how the combination of greedy builders, home appraisors, and lax lending standards have brought us to this. And advice on what to do.
2. St. Joe's Going Out of Business - A Major Builder up in the panhandle, after making money hand-over-fist the past 3 years, is suddenly calling it quits. What does this tell you about the state of the market (in our state)?
3. Top 4 Myths About Real Estate - Beautiful writeup by Shawn Tully from Fortune Magazine - on CNN/Money Magazine's website.
4. Greenspan's Commentary, August 2005 - This was a OVER A YEAR AGO, and he had it right, even back then. Many thanks to my buddy Joe out in Phoenix for locating this beauty. Quote:
"Mr Greenspan said that people were investing in houses as if they were a one-way bet, not allowing for the risk of price falls. He said 'history had not dealt kindly' with investors who kept ignoring risks."