Zeev's Turnips Patch-No Politics (ZEEV)

[osprey]

These bursting bubbles can be painful. Hasn't happened to me but a good friend got hosed. He owned a house in Seattle, job market cratered. Moved to Colorado while renting the house in Seattle because he couldn't sell it at the time. Company in Colorado went BK, took a loss and moved to LA. Got laid off, took a 60K loss and moved to Texas where he got in at the low and at least broke even. As Greenspan says, you really don't know what a bubble looks like until you look back and see the downside. I guess we will know in a few years but my operating principle is to just use common sense. If it looks like a duck, it is a bubble.