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[Clansgian AT wmconnect.com]

> Bubble, shmubble. Writers need to become more responsible and readers 
> need to become less gullible. "Glut." "The new ghost towns." 
> "Umbrella of fear." For shame. 

Bubblistas began pointing to a rising housing bubble as early as 2001 and the 
blather became in earnest by 2003.  At the time the doubters pointed out that 
month after month, quarter after quarter, house prices kept rising and rates 
of sale kept rising.  It is a bit elegant to have read a lot of this three 
years ago where people would write that by their calculations  what would be 
happening in housing down the road and then the events that happened in the 
latter 
half of 2006 was exactly as they predicted.

Right now, in predicting the real estate market, it stands at bubblistas - 1, 
RE cheerleaders -v0.

And yet what I have heard from so many sources who said that RE could only go 
up, up, up, is that the current downturn is due to buyers being spooked by 
the hype being perpetrated by the bubblistas.

If you are a savvy analyst and you predictions turn out to be true, then it's 
all written off as a self-fulfilling prophecy.  Gotta love it.