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Anybody can post rhetorical statements like you. It takes real experience to post facts and historical background information. Are you out of school now?
Out of school for thirty-five years now, grasshopper. Retired and living in the lap of luxury for nearly six. It's rarefied air up here alright. Not so many have what it takes to get here.
They do recognize bubbles. This one claims that the San Diego housing is not in a bubble using the 2002-2006 bubble as reference. If one uses the real estate cycles previous to 2002-2006 as reference, the current cycle lies well outside those boundaries, perhaps by 15 percent.
Rich Toscano = small-fry local neophyte blogger with no grounding at all in the meaning, nature, or history of bubbles in the modern world. He uses the word as a mimic -- meaning that he heard it used somewhere before.
Some of these assets absolutely must be bubbles unless we are to believe that 7-12 household income is the new normal for Real Estate.
Stability. A home in America comes with fun things like due process property rights and a ton of relatively rich neighbors. Oh and there could be a building on it as well. That stability was once matched in Japan. And property values rose to meet it.
Stability. A home in America comes with fun things like due process property rights and a ton of relatively rich neighbors. Oh and there could be a building on it as well. That stability was once matched in Japan. And property values rose to meet it.
Japan was in a bubble. Dollar-yen exchange rate was halved in a short period of time of about 3-5 years through joint intervention among the central banks. It attracted foreign investment which drove up asset prices. The combination of the weak US dollar and high domestic wages and asset prices eventually caused manufacturing to move offshore in the early 90's.
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