Housing Bubble Blog Post, Circa 2006
July 14, 2008
I stumbled upon this blog post from 2006. In it the writer was kind of poo-pooing the forecasts of the housing bubble doomsayers.
The housing bubble bloggers have been “warning” readers for a year or two about an impending housing bubble. Now that they think it’s here, the “warning” has turned into a complete doomsday scenario, complete
with Americans rioting in the street. Nobody will be safe as the U.S. dollar will have devalued to be on par with the peso. The American economy will be owned by Chinese central banks and our children will be producing the world’s cheap consumer goods, not theirs. This is what they would have you believe.Thankfully, I don’t think many people are listening. But they are listening to the mainstream media who are filling up the airwaves with equally ridiculous myths about the condition of the American housing market.
I wonder how things would be today if people had listened in the years leading up to the Great Bubble of 2006.
