We ranted and raved for months about what was to come, and then now it's come. The long unwinding is upon us. Prices are falling, inventory is exploding, and a whiff of panic is in the air.
Ding dong the Housing Ponzi Scheme is dead.
Should we be surprised? How does it make you long-time bubble-believers feel? Happy? Vindicated? Troubled? Unpopular? Angry?
Have you told anybody "I told you so" this month, or are you keeping a low profile?
And do you feel you've prepared enough?
May 30, 2006
Posted by blogger at 5/30/2006