Replies to post #556 on Real Estate Bubble (RUBBLE)

[lentinman]

Kipp:

Yes, that is a good article. Sarasota/Bradenton is an area that I spent two months in last summer trying to determine if I could invest in property for price appreciation.

I abandoned that idea because it was clearly in a bubble - and that was 15 months ago! How many bubbles end with soft landings? Very few, if any. I think the realtors down, there who dismiss it, are either lying to themselves, lying to everyone else or both.

One thing you can bet your life on. The last person to turn out the lights on this housing bubble, the last person to take a bath, the greatest fool's last words will be those quoted by the guy building a home near the end of the article. "...the best time to buy is now, before they escalate beyond reach..."

And, that mentality is exactly why bubbles exist. In the later stages the only reason it continues to go up is because the last group of potential buyers are desperate to get it "before its too late".

Len