3 ms·
More than doomsday, they play to fears. Back in 2005 it was about DOW 30k and how what a gem real estate was. The fear then was to being "priced out forever".
by sbov 16y ago
More than doomsday, they play to fears. Back in 2005 it was about DOW 30k and how what a gem real estate was. The fear then was to being "priced out forever". Buy now or lose out, because your puny income won't compare with how much a 100 square foot shack costs in 10 years.
Now its about DOW 1k and losing everything you own.
- matwood 16y agoI never understood how anyone could believe the priced out forever argument. A friend tried to argue it to me, but could never explain if everyone is priced out then who is left to buy? It just never made any sense to me even at the high point of the bubble. I was successful at keeping 2 of my friends from making horrible financial decisions, but a third went ahead anyway. Now she's stuck owning a crappy apartment with an upward adjusting mortgage.