What's funny though is that even though most of the country knows we're in a bubble that's blowing, they don't think it'll happen in their backyard.
Oh, man, that's funny...
According to the latest Experian-Gallup Personal Credit Index(SM) survey, 71 percent of consumers say it is likely that a housing bubble and collapse of prices could occur in the United States within the next year.
Twenty-four percent say such a housing bubble is not likely. In contrast, a much smaller number of consumers, 32 percent, expect the collapse of a housing bubble within their own area in the next year, and 65 percent say it is not likely.
April 21, 2006
Aw, man, now everyone knows...
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Just like some other poster was saying, it's all about ME ME ME and no one believes they will be victims.
Typical conversation heard at Starbucks:
Lady 1: I had to pay $100 to fill up my Navigator...I wish people wouldn't drive SUV's anymore
Lady 2: Yeah it sucks. Those dumbass people are causing me to spend $85 a week in my Suburban. By the way did you hear they are having a makeup sale at Nordstroms?
Lady 1: Would you like another tall mocha and a sticky bun?
HA HA HA HA stupid people just don't get it.
Most of these people are like ostriches when danger approches they stick their head in the sand and go into denial not realizing this is a sure way to get your ass kicked.
1. It'll happen to someone else, not me
2. It's was somebody else's fault, not mine
3. The government needs to bail me out
When ever I fill up my tank I ALWAYS use my credit card. That way I'll have PLENTY of money left over for large cappuccino and croissants.
I knew the bubble would hit my neighborhood but I didn't think it would be this fast.
Huge red foreclosure sign went up today. :)
Last time, the foreclosure signs were blue...
I made a similar comment on a different blog, but I don't think there is a contradiction between saying there is a general housing bubble but not a local bubble. Most Americans don't live in the frothiest markets - I'd be willing to go out on a limb and say that %68 of Americans don't live in Miami, LA, Las Vegas, Bay area, or Boston. I'm not saying these people are right, but that they may have a rational reason to make those two statements.
-William
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