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Old 05-08-2011, 08:14 AM
 
Location: North America
5,960 posts, read 5,131,462 times
Reputation: 1948

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Who Saw The Housing Bubble Coming? - Forbes.com

Quote:
Federal Reserve Chairman Alan Greenspan first addressed the question of a housing bubble in testimony before the Joint Economic Committee on April 17, 2002. He dismissed the idea--or, for that matter, any comparison to the stock market, which had recently gone through a high-tech bubble--on the grounds that housing was different because of substantial transaction costs and more limited opportunities for speculation.
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Old 05-08-2011, 08:20 AM
 
33,415 posts, read 30,803,329 times
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i kind of saw it coming. i knew there were going to be serious issues when mortgage companies started advertising interest only loans, but i figured it would be 10 years before the problems started slamming the economy, not 6.
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Old 05-08-2011, 08:21 AM
 
6,753 posts, read 7,578,901 times
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Funny. I saw it coming, and talked my aunt into selling her house at the top of the market.
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Old 05-08-2011, 08:22 AM
 
1,461 posts, read 1,407,693 times
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Many experienced amateur investors saw it coming. Why didn't the "experts?" These amateurs also knew once it happened, not to panic and are now seeing tremendous rewards.
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Old 05-08-2011, 08:29 AM
 
Location: North America
5,960 posts, read 5,131,462 times
Reputation: 1948
It's funny. I never hear anyone say, "I didn't see it coming." If everyone saw the crash coming then why did it happen?
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Old 05-08-2011, 08:32 AM
 
Location: Hoboken
19,889 posts, read 17,548,125 times
Reputation: 3141
Lol, only 5 years too early. Left a lot of money on the table.
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Old 05-08-2011, 08:34 AM
 
24,839 posts, read 34,995,446 times
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From 2004 until 2008 we were drilling water well for HUGE homes that I knew people could not afford.

Many of them sit empty today.

Oh yes, I saw it coming.

When you see line cooks building $500,000 homes you just know where it is headed.

I blame the people that really thought they only had to pay the interest.
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Old 05-08-2011, 08:36 AM
 
24,839 posts, read 34,995,446 times
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Quote:
Originally Posted by rbohm View Post
i kind of saw it coming. i knew there were going to be serious issues when mortgage companies started advertising interest only loans, but i figured it would be 10 years before the problems started slamming the economy, not 6.
Yep, we worked on many of those jobs.
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Old 05-08-2011, 08:39 AM
 
Location: Florida
73,522 posts, read 40,844,418 times
Reputation: 13600
Quote:
Originally Posted by clb10 View Post
A lot of people saw it coming. It was Greenspan's job to see it coming and he failed at his job. In 2004 he went on TV to encourage people to "take advantage" of ARMs and exotic mortgages when he KNEW the rates were as low as they could be and had nowhere else to go but up. But then again, it was election year, so it made sense to keep th rates low.
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Old 05-08-2011, 08:41 AM
 
Location: Columbus
4,878 posts, read 4,211,677 times
Reputation: 1448
Here's a link to an article about people that predicted the housing bubble. 27 of them. All Austrian economists.

The same economists that are continually dismissed when they say that we can't continue the Bush/Obama economic policies and not expect to bankrupt the entire world economy.

Austrians Who Predicted the Housing Bubble « LewRockwell.com Blog
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