Shock and Awe: The Collapse of Housing and Sanity
Author: Joshua Dorkin • URL: http://www.biggerpockets.com/March 15th, 2007 •
I have to admit it . . . I’ve been a bit lazy over the past few days when it comes to the blog. I’ve been a bit overwhealmed by other things on the site and haven’t found the time to post. Ahhh . . . the life of the entrepreneur.
That said, I’m sure many of you are wondering where is Josh when the shit hits the fan. I have been well aware of the whole sub-prime crisis, and have already told you all how I feel about it. I think the picture below best illustrates what the government has been doing about the impending crisis for the past 5 years or so:
I love the new BusinessWeek Article: Can Nerves Be Calmed about Housing?
NO NO NO NO
Who in their right mind is calm about the housing market? It has been a pending disaster for years. We’ve just been getting fed more of the type of stuff Alberto Gonzales and Scooter Libby have been dolling out . . . a pack of lies
THE HOUSING MARKET IS FINE . . . UNDERSTAND!!!
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Joshua Dorkin
Charles Feldman
Ted Karsch.
Troy Schuricht
Anwell Tsai
Richard Warren
Jim Watkins
Will Friday be an economic doomsday?
I think the media is creating a panic!! Just because some idiots borrowed more then they should of does not mean we are going to have hail of brimstone. Real Estate they are not making any more of it so yes maybe it will do a correction but so what thats economics 101. what goes up must go down.
You’re right . . . I got killed during the stock bubble because I got a bit too greedy. Didn’t analyze stocks anymore - just went with the momentum. That is a quick way to your death. Making money investing requires a fundamental analysis of every situation. Like you said, what goes up must come down - especially if you buy at the top!
I could not agree more with Joshua. Several pieces of data suggest slowing down in the housing market so caution is needed. But independently of general trends careful analysis and thorough due diligence of any property you will be investing on is a must anyway.