Many of the people predicting this collapse were "new players" to the market, not people always predicting collapses. Take the guy who runs seattlebubble.com.

Many of the people predicting this collapse were "new players" to the market, not people always predicting collapses. Take the guy who runs seattlebubble.com. He's an ordinary guy who wanted to buy a house, realized prices were really high compared to his expectations, and started digging deeper. He hadn't predicted any past collapses of anything, he just realized that housing costs were unsustainably high and called it. Many of the other bubble-predictors were in the same boat. The guys always predicting collapses are crackpots. The normal people who called this bubble because they realized house prices had jumped without corresponding changes in income or demographics, but only changes in bank lending standards, were not crackpots.