Bravo Larry!
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excerpt from 15 Articles: I buy this one
A bibble is a tiny bubble.
I just looked at one of the RSS feeds I have programmed to send me real estate news. There are 15 articles that have come in today that talk about the current real estate market. They come from reliable sources, supposedly, like Marketwatch and USA Today. They all seem to be on the bandwagon of the bubble.
All but this one today, from the Orlando Sentinel: click here: this is what I believe is going on, a return to a normal market, a bibble is going on, not a bubble.
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Finally, a contrarian... although not completely bullish, the spirit of the contrarian is what is missing from the bubble punditry.
I worked on Wall Street previously, and contrarians are a fact of life... and they often do well...
At RE Connect last month, I participated in the "bubble" conversation code named "California: Real Estate Heaven or Real Estate Hell?" My question: "where are all the contrarians in this market?" did not get a response... I think they were hiding because that is what contrarians do.
I wasn't in the real estate business back only a few years ago, but I remember a lot of angst after 9/11/01 (see Zillow-originated graph of San Francisco housing price appreciation 1999-2006). The bottom didn’t drop out after that... that said, I’m not a crazy contrarian who says ready for takeoff in 3 years. I just like to see counter-arguments to the status quo. (Here is another one.)
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