January 20, 2008
-- by Dave Johnson
Also titled "I told you so!"
In the LA Times today, How we cashed in before the housing crash,
Our friends said we were crazy. Relatives asked whether we were in financial trouble. But in April 2005, my wife and I bailed out of the American dream. We sold our two-bedroom Pasadena condominium and became renters again.Sold too early. And now they're saying "We're at the bottom." Right.
We got nearly three times what we had paid for the place nine years earlier. It seemed to us like a staggering profit -- and a sign that the market had been pumped up beyond reason.
. . .But at the time, a lot of people thought we had sold too early. To stay on course, I adopted a personal anthem. It was a Public Enemy song that hit big in 1988 during the previous real estate run-up: "Don't Believe the Hype."
Posted by Dave Johnson at January 20, 2008 1:24 PM
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