October 21, 2008
-- by Dave Johnson
People in my area think a 2-bedroom, 1-bath house for "only" $550,000 is a "bargain" that they should "snap up" because "prices will go back up like they always do."
That is the language of bubble.
Think about this: People thought that stock in sillyname.com was a "bargain" when it fell to $20 a share, but a little while later no one thought the same stock was a bargain at ten cents a share.
Posted by Dave Johnson at October 21, 2008 8:52 AM
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