From the HousingPanic archives, April 12, 2006:
For the original HP'ers, Fall 2005 was kinda fun - as we were dealing with a theory of an economic bubble, many of us had figured it out, and against the advice of our friends, families and realtors, sold our houses (at the peak).
We were debating if we were in an economic bubble, what were its proofs, its causes, and what would lead to its collapse.
Now that we're here, without a doubt post-peak, post-bubble-pop, well, its time we really think hard about what the world will look like in 3 months, 6 months, 12 months, 24 months, 48 months.
For your personal situation, for your neighbor, for Bob Toll, for realtors, for mortgage brokers, for illegal immigrants, for married couples, for families, for the kids of investors, for Ben Bernanke, for the poor, for the rich, for retailers, for Lexus salesmen, for George Bush, for returning soldiers, for Greenspan, for Trump, for job seekers, for condo flippers, for developers, for Fannie Mae, for China, for stock investors, for renters, for new homebuyers, for America and for the world.
Really. Stop and think about it. Now. Think hard. Visualize it. The bursting of the largest financial bubble in human history.
Because it's all going to end badly. For almost everyone. Really, really, really, really badly.
Really, really, really, really, really, really, really, REALLY badly.
Really badly. And that's not good.