April 16, 2007
We've run this classic cartoon a few times over the past year and a half. Figured it was time again, after David at BubbleMeter reminded me the other day.
So many have made fun of HP'ers (and continue to do so), saying "it's different this time" and "the fundamentals don't matter". The trolls go on and on about how prices haven't crashed yet (per the NAR and US Government), how renters and frugal people are stupid, how even though supply is sky high it's just a return to normal, and how they ain't makin' more land.
I hope they stop for a moment, take a look at this, and maybe, just maybe, in their tiny little brains, simply understand. Oh, the folly of human nature. We've been here before, and we'll be here again.
We've just never been here before at this level. It truly is different this time, I'll give the trolls that one. This was the biggest bubble in the history of humanity. Now that's impressive.
And now, the biggest crash awaits.