You may have hit the nail on the head. I remember dot com mania. I used to be entreated to chapter and verse lectures on line as to how the world had changed, there was a new paradigm and brick & mortar was passe. Aside from Ken Wong, I don't know anyone who made the big money and kept from losing it after the collapse.
Low interest rates have probably caused the consumer to refi again and again, taking out cash each time. Plus they begin to count on a steady 20-30 % gain each year in value and leverage against that as well.
Out here near Cape Cod, mobile homes have plummeted in value, followed by condos and then houses. 'Price reduced' is a common sign with all ads.
Does smell a little bubbly.
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