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Why do people deny the existence of housing bubbles?
invite response
2005 Jul 16, 10:29am 12,383 views 83 comments
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Peter P
2005 Jul 17, 5:48pm
People that deny bubbles either (1) Own property and bubble reality hurts to much to think about, (2) Never seen or have been affected by a major buuble, (3) The old “people have been saying this for 30 years†argument.
I think (3) is quite understandable. However, talking about the bubble does not prevent its occurance. (Unlike the Y2K problam - focused efforts prevented the problem.)
bubblesitter
2012 Jun 19, 1:26am
Why do people deny the existence of housing bubbles?
People those deny are the couch potatoes - relaxing on their butts and calculating(dreaming!) 20% YOY home price appreciation. This is completely against basic laws of economics,making money while doing nothing.
Dan8267
2012 Jun 20, 4:00am
It's not that they don't believe the bubble is real. It's that they think they can convince a fool that it isn't and get the fool to pay much more for their house than its worth. When money is on the line, the truth goes out the window.
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Some people deny that housing bubbles exist. Some even suggest that the recent appreciation is sustainable.
Are the consequences too scary to fathom? Are they just blinded by greed and fear? Do they even have the right information?
#housing