On Tue, Sep 2, 2008 at 8:33 PM, John Williams <[EMAIL PROTECTED]>wrote:
> > > Nick Arnett <[EMAIL PROTECTED]> > > > > Look at what has happened in a traditionally > > low-risk marketplace -- real estate -- lately. Even there, investors > > started having crazy expectations. And yes, the market is correcting, > but > > look at the fallout. > > People thought that real-estate always went up, at least for the past 30 > years in the US, they said. Now a generation of investors has learned > otherwise. > That lesson will probably stay with the current generation of investors, > but in > 20 or 30 years the lesson may need to be "re-learned". And the investors > who > learned from history will profit from the ones who did not. I'm not sure that all that many people have learned not to be greedy and short-term focused. My posting was ironically predictive, as my job fell victim to the market's obsession with positive cash flow. And we bought a house at what now seems to be pretty much the exact wrong time. On the other hand, we own the house my wife grew up in, which is in Springfield, Oregon, where housing prices are rising. So there's that, anyway. Nick _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
