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["Lynda" <lurine AT softcom.net>]

Well, in the Phoenix area it happened in the 80s and by 90/91 people had 
houses that weren't worth the mortgage they carried on them.  Fast forward 
that 20 years and they all sold for mega bucks.  Guess ya just have to suck 
it up and wait it out.

I wonder if there were folks writing the doom and gloom articles then. 
Anyone have any references from then?  All I have is letters from friends 
who bought back then and were crying about what to do because their houses 
were no longer worth the paper their mortgages were written on.

Do the housing bubbles run on 20 or 30 years cycles?

Lynda
----- Original Message ----- 
From: <Clansgian AT wmconnect.com>
> Yes, I've heard that dismissal before.  I notice that it never carries 
> with
> it any figures nor analyses.
>
> Gene, some of these people were saying this was going to happen, that it 
> was
> inevitable, back in 2002 or before.  During the feeding frenzy of the 
> Housing
> Bubble, they predicted, with data and analysis to back it up, that right 
> now
> housing would be crashing and why.  Turns out they were right.  And the
> cheerleaders saying "It's always a good time to buy" were wrong.  These 
> people's
> predictions were dismissed as idle doomsaying.
>
> If you find out you have terminal cancer, sure, there's no reason to dwell 
> on
> the negativity.  But that doesn't mean that by ignoring the negative, it 
> is
> going to go away.  Housing has crashed and those who accurately predicted 
> it
> say that it could be 20 years before the credit/debt housing debacle sorts
> itself out.  Those whose financial future is hitched to ever increasing 
> real estate
> values are screwed.
>
>
> > I need a Heartwood fix real bad.
>
> Ironic, that, don't you think?   </HTML>
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