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Saturday, April 11, 2009
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59 comments:
This is an interesting house:
Sales history
February 29, 2008 $352,500
December 28, 2007 $401,000
September 19, 2006 $480,000
And it's on sale now for 375K
4 times sold/on sale in the last 4 years.
This is an example of how the current housing bubble and boom has been a huge waste of time and resources.
http://www.trulia.com/property/1069489880-7402-Ellwood-Pl-Springfield-VA-22150
It looks like 2007 sale was a foreclosure & Fed 29, 2008 sale was a REO purchase. The new owner may have made some upgrades.
http://franklymls.com/FX7022566
02/29/2008 $352,500 FERDERAL HOME LOAN MORTGAGE CORPORATION CHEATHAM CHARLES M JR
12/28/2007 $401,000 KHAN HAMEED AHMAD FERDERAL HOME LOAN MORTGAGE CORPORATION
09/19/2006 $480,000 PAVEL LING LING T KHAN HAMEED AHMAD
06/12/1987 $57,500 PAVEL LING LING T
It sounds like the current owner either has to move or is dissatisfied, and is hoping to get out whole.
He probably thought he got a good deal until he looked at his 2009 tax assessment:
2009 $312,240
2008 $453,000
Ah, but this gem has :
"Brand New Kitchen with Granite Counters and Appliances."
http://franklymls.com/FX7029550
Anybody else read that as granite appliances? Too bad there's no pictures up (yet).
Cara,
Just like the ones Wilma Flintstone uses!
Tom, I'm glad that ad points out that it's "seller owned." Who else would have the right to sell it?
I'm sorry, but I just don't get it.
Why would people spend hours and hours on here on doing research in the hopes of buying at the bottom? But you don't want reo's? There are plenty of places that are near or at bottom, imho, yet the debate goes on endlessly. If you have that much time and effort to put into your search, I'd expect all of you to get tremendous bargains in this market.
We,ve seen from past corrections that after the major drop, we bounce along for several years. The wild card here is interest rates. I'd lock in everything I could at current rates.
Cara worries about a 50K (possible) difference in price. Long term investors care about cash flow - not 3 or 4 yr variances in pricing. Yet, you guys say you are not investors?
It's quite possible that I have nothing in common with any of you and that is the reason that I find some on these discussions so lacking.
I believe that I have something to offer here and I'll do that for those who want my thoughts.
Hi, Va_Investor:
If you look at the blog owner's (Harriet) profile, you could see that her interests are "Real Estate Financial Markets Housing Bubble Blogs Energy-Efficient Homebuilding Gardening Cooking Education". As such, in my view, this blog is not tailored to
investors whose investment aim is to have positive cash flows.
Most of the readers/posters of this blog are individuals who want maximum return on their investment of being a home owner (or sellers) and NOT become a "falling knife catcher".
I think, Harriet can respond much better than any one of the readers/posters of this blog about her main objectives for creating and maintaining such a well-informed blog.
.
District of Dreams Hits a Slump
"sales on its 78 townhouses, which start in the mid-$600,000 range, have slowed to two a month from five. "
"Everybody is building these big buildings, and they're empty. It is sad. "
"There's a 35-foot hole where the two residential towers and the hotel are supposed to go."
"the value of land and office buildings has fallen significantly"
Let's move downtown!
Va_investor,
You're assuming rents won't fall.
I've seen you for years claim housing prices won't fall (in good areas). And, well you were waaaay wrong. What kind of fool would take advice from you?
Just to share one possible scenario:
* China stops buying US Treasuries, * The baby boomers retire
* The government with less money and more expenses, actually stops hiring
* Wages fall
* Rents fall
It was only a few years ago, in which people like VA_Investor would tell you not to worry about these things. They were and are wrong.
"I've seen you for years claim housing prices won't fall (in good areas). And, well you were waaaay wrong. What kind of fool would take advice from you?"
I have been biting my tongue about her past predictions as well. She was one of several real estate pumpers on the bubblemeter blog back in 2005-2006 telling everyone how this was a "normal cycle" etc etc. She wasn't as bad as lance when it came to fruitcake predictions/theories, but that isn't saying much.
Now she is back and claiming to have mountains of expertise to offer again.
Tom and LeRoy,
Before we start throwing stones, let get our facts correct. I went back to Bubblemeter the other day in hopes of pulling some of earliet comments going back to the fall of 2005.
I found the threads, but was unable to open the comments. Perhaps one of you is more computer saavy than me and can retrieve them.
I have always predicted a drop of 25-40% depending on location (with condo's being hit the hardest). I did this based on what happened in the early '90's.
I NEVER claimed that the best areas wouldn't drop; just explained the reasons why these areas would not be impacted in the same way as other areas (lack of turnover during the 2002-2005 yrs; more move-up buyers with substantial downpayments; more "professional, educated" buyer pool, etc., etc).
It's true that I am a firm believer in re investing as a way to build wealth, but my last purchase (with new money) was in 2002 (until very recently), so I was hardly suggesting that anyone buy re at any price. In fact, as I've often mentioned, the first house I bought was in foreclosure. That was back in 1981.
Some people consistently misrepresent my earlier posts; to what end I don't know.
"The FDIC study that I referenced last week examined the history of Housing Booms and Busts and concluded that, absent some shock to a local economy, busts do not follow booms as a matter of course. In fact, if I recall correctly, busts occurred in only 17% of the instances cited and ONLY when local economic problems existed. It is ironic that BH's dismiss this study by saying "it's different this time" - the same language that HH's are ridiculed for using.
What we are witnessing is a normal RE cycle and, according to sources referenced above, the worst may be over. I see no evidence suggesting a bursting of any bubble." -VA_Investor Jan 7, 2007
"I think that it is quite possible that prices will drift lower in 2007, but I have no crystal ball and won't pretend to be any sort of "fortune teller". This spring season should be very interesting.
If I wanted a house and could afford a fixed-rate mortgage, I would buy. I certainly wouldn't count on being able to sell unscathed in less than 3 to 5 yrs. The fact is that it is just as foolish to expect major price declines as it is to expect substantial appreciation.
Past cycles would suggest that we are in for a few years of relatively flat prices. That said, I would be wary of condo's. There is a huge glut that will take some time to be absorbed. It could be that we have already seen most of the discounting that is going to happen, but I don't like condo's as an investment anyway.
As far as interest rates, I agree with Harney. It is a great time to lock-in a rate. Everything I have read indicates that rates will only be up slightly in 2007, but I would be more concerned about rates than falling prices. When rates went through the roof in the early 80's, prices did not tumble. The market simply ground to a halt. This is my memory, at least.
There is one poster here that keeps moaning about being "upside down" for almost ten years in the 90's. Could that happen now? Sure, anything is possible. I think he probably overpaid. We are significantly off the most recent peak of mid 2005. The downside risk is clearly less than it was in 2005. There is always risk, but, unless some financial disaster forces you to sell, you will come out ahead in the long run." - VA_Investor 8 Jan, 2007
"Lance is right, it is a gamble. I would buy if I could afford it. Lock in an affordable payment for te next 30 years. The gamble is that prices will fall and interest rates will remain stable. It is a fool's game unless you have some superior insight that no one else has. The truth is that short-term (5yrs or so) no one knows. Hell, if it was a sure thing, there would be no debate. What we do know from history is that buying a house is a smart move.
I never worried about this stuff when I was starting out. My dad told me to buy when I was 22. Good enough for me (I was lucky to get such good advice). You people have much more info than I had. We all know that we are well off the highs. I think renting is as much of a gamble as buying. So my conclusion is buy if you want to; rent if that makes you more secure."
- VA_Investor, 10 Jan 2007
Etc etc etc
Touché
Leroy posted some of my comments from Jan '07. What point does this prove LeRoy? Does this sound like unqualified "pumping"?
Tell me who, in Jan '07, saw the financial meltdown and economic fall-out coming? I am not talking about the certain Clarendon buyer who claimed prices in Arlington would be off 40%+ by 5/08.
The following 3/5/09 Redfin.com comment by our friendly (and well-informed and honest) neighborhood Realtor Frank gave me pause:
frankly
"Rent.
It is much cheaper per month, even after tax breaks."
Novawatcher:
touche? Are we reading the same words? How about some of my posts from the Fall of '05?
"Some people consistently misrepresent my earlier posts;"
It makes them bigger.
This all very humorous and proves that prognostication-wise perhaps VA_investor is not the most prescient. However, (a) people can learn and (b) that's not what she's been offering lately. If you'll recall, just a week or two ago someone needed serious advice on becoming a landlord. And Va_investor was amongst the few with landlord experience who was able to provide any insight. Okay, so some of the statements were wrong there too, but by bringing them up, the truth was eventually found. And I think the final take-away was that for this particular upside down family renting out their current TH was indeed the right plan if they wanted to move now. Of course then it turned out that they didn't really want to move...
And, there are cash-flow properties showing up. Some of them aren't sufficiently cheap to sustain the possible 10%-15% decrease in rental income, but I would bet there are some that would, if not now then soon.
As some of us are thinking TH in our purchases, keeping it as a rental later when we want to move out is part of our contingency plan, as such Va_investor's experience is relevant.
As for her original question. Why aren't we all buying, well, let's see a lot of us want SFHs in good locations which still aren't near the prices we think they should be, some of us are only 1-2 years into our downpayment savings plans and so are trying to judge whether we need to buy now because of the low interest rates or if its going to be okay to just wait to buy until the time is right for our own personal financial schedules and some of us like Harriet and dgg have just bought or like Tabitha and me are in the process or starting the process of buying.
This is what frank was responding to:
"I am single, and considering buying a home by November 2009 at the latest, but I wanted some input... Possibly even some reading suggestions on resolving a few questions:
1) Where should I live? I currently work in VA but live in MD. I love living in MD and have some what settled, but I could shave 20 minutes off of my commute time by moving to VA. My only apprehension about moving to northern VA is the social network and further distance from DC. My only problem with living in MD is the commute. Real estate is much cheaper in VA, but I do like living in MD.
2) Should I buy a townhouse or work on eliminating debt? I have about $13k of commercial debt, $20k of car loan debt, and $60k of student loan debt. I currently rent and make enough to aggressively pay down my $13k debt (I paid $10k off of my commercial debt in 2008) and am deferring my student loans until I clear up all of the $13k. I am still setting aside 10% of my gross income into an emergency fund (I currently have 2 months saved). Additionally, I have 3.5 - 5% for a down payment on a town house from $200k or less. My FICO score is in the mid to upper 700s... good rating. If I do not buy a home in 2009, I can buy a home in 2010 having paid off my commercial debt, and significantly paid down my car loan... A friend told me that I should get into a home now (2009) because $33k of the debts listed could be wrapped into a home once prices appreciate and I would see the benefits when I filed my taxes. What is the best thing to do? I am looking to purchase for the long-term and not an investment property. If I wait until Spring 2010 will I miss out on all the good deals and programs? Will obtaining a home loan become more difficult?
3) Where can I go to find out about programs for first-time home buyers in Montgomery, Prince Georges or Loudon counties? I am not sure where to begin looking, and I know some of the major down payment assistance programs have been wiped out as of last summer. What help is left for first-time home buyers."
In a thread called
"First-time Home Buyer... I think - So Many Questions"
Given their situation?? Dude, they should so not be buying yet. Their debt is out of control. And they're looking at VA thinking it's cheaper when in reality it may just be that the correction is delayed in hitting MD where all their friends are. Their rent is cheap enough to make significant strides on getting out of debt, that's what they need to focus on. So, Frank's answer sounds universal, and isn't focused on this person's questions, but by making it sound universal Frank is actually being more persuasive than I would be if I insulted them by telling them they shouldn't take on more debt.
Ace quoted Frank that "it's cheaper to rent".
This statement may be true in general (ie averaging the entire Market), I don't have the data.
As an investor I would never buy a rental that cost more than 50-75% of the median house price. People do not buy 500K+ houses as rental investments. They never have and never will "pencil out".
Again I don't have stats, but I would guess that most properties under 200 to 250K are viable rentals; meaning that rents are equal to or more than mortgage payments (given 20% down).
This is one reason that the lower tier may have bottomed in many areas of the region.
I have seen many reo's sell in the very low 100's. Rents on these properties vary from 1200 - 1500. At current interest rates, there is no argument that positive cash flow is assured.
There has been talk of rents dropping and vacancy rates spiking. I am unable to find local data on this. Perhaps one of you good people has this info.
I know that this isn't the 90's; but as a LL throughout the 90's, I saw no rent drops on my properties and no spike in vacancies. I'm usually undermarket anyway because I like to have a large pool of applicants and then retain my tenants once they are in place.
Cara said:
"..this is all very humerous.."
If you read what I said in those "selected" posts, I find it hard to see anything but reasoned discussion. Hind sight is always 20/20. I stopped buying in early 2002, with the exception of some 1031's where I traded into better deals (sold high, bought low).
I'd like to compare my statements in 1/07 or 10/05 to those of Tom and LeRoy. I never claimed a crystal ball - but those 40% off in Arlington by 5/08 were pretty darn firm.
Contrarian,
All I can say is "wow". You should be helping out Buffet!
"Tell me who, in Jan '07, saw the financial meltdown and economic fall-out coming?
Me.
thehousingbubbleblog
calculated risk
ml-implode.com
the folks at itulip.com
A bunch of hedge-fund managers
do you want me to go on?
va_investor
Again, that's not what I meant. I could just as easily have said "this is all well and good," or "that's just great for you guys to jump all over her like that but.."
I was trying to come to your defense by stating that prognostication genius is not the only asset we need for a fruitful discussion on this blog.
And to follow up: I sold in 2007. I had intended to sell in 2006, but due to personal reasons, I had to delay for a year.
And why did I sell? To cash out on what I saw as insane windfall profits. I was lucky enough to have bought in 2002, and I wasn't going to miss the chance in a lifetime opportunity to take profits like that. I kinda felt sorry for the folks who bought my house.
In 2007, I also cashed out of equities and invested the proceeds in treasuries and gold. The valuations made no sense at the time, and I knew that earnings would plummet once the bubble burst.
Thanks Cara (I think),
My point is that I never claimed to know the future and I think that comes through quite clearly in the posts quoted.
I just stepped back into the market in December. As always, it is the individual "deal" that is important - not the Market in general.
Decisions on RE purchases should never be made based on time frames of less than 5 yrs unless one is a very experienced "flipper". I believe my point in '07 (although it's very difficult to discern without reading the entire thread - perhaps this is why we haven't been provided it) is that we were well off peak; that the interest rate environment was good; and that if one could afford the house, it certainly wasn't the worst time to buy. I have always advocated buying under FMV and suggested that finding a bargain takes work.
I don't believe in paying the "going rate" even if that is 30% or 50% off peak.
Anyway, my point is that certain individuals constantly try to put me in a false light. I felt that your response (more of a back-handed compliment) fed into that.
"Does this sound like unqualified "pumping"?"
No, like I said earlier, you were never the worst of the housing pumpers.
However, your track record for predictions is pretty darn poor and that is certainly something people should keep in mind when listening to your advice, especially when you continue to misrepresent your earlier predictions.
"Tell me who, in Jan '07, saw the financial meltdown and economic fall-out coming?"
By Jan 0f 2007? Are you joking?
By that point the bubble was already widely recognized and numerous people were discussing the effects its burst were likely to have.
Just read the thread where all three of those posts by you were made:
http://bubblemeter.blogspot.com/2007/01/bubblesphere-roundup.html
It includes this classic Lance quote:
"Because housing used as a home isn't an investment (i.e., asset as in "store of wealthy") but rather an expense, large declines in price never happen." - Lance Jan 5, 2007.
Novawatcher,
I didn't cash out of my RE for several reasons. While I anticipated a drop of about 20 or 25% for my portfolio, the transaction costs would have exceeded that by far.
Re commissions, closing costs, lost rent, fix-up, capital gains, recapture of depreciation as ordinary income, etc, etc. Then you are left with a net$$$ amount and the need to invest it somewhere. I could not see any way to achieve the safe returns that I was already receiving. My plan has always been to hold the RE for retirement cash-flow (either from net rents or holding mortgages). I never think in 5 or 10 yr time frames.
I can see the wisdom of an individual cashing-in tax free and renting. But, as we have seen, this doesn't always work out. We have one poster here that did this in 5/05 and prices in his desired neighborhood have not even dropped enough to cover moving and transaction fees.
I'm the first to admit that my stock market results have been abysmal for years. Thankfully, most of our assets are in income producing RE, bonds and preferred stock.
LeRoy,
And who were you on Bubblemeter?
Actually folks, in the interest of full disclosure, could Tom (arlingtonva); Ace; Alex; Leroy; and NoVAwatcher please provide their Bubblemeter handles?
Obviously, all of you were there. Surprisingly, a blog search of bubblemeter showed no comments from any of these blogger handles.
Anyone care to "man up"?
"And who were you on Bubblemeter?"
I didn't post there a lot, occasionally as leroy, and occasionally as anonymous.
"Obviously, all of you were there. Surprisingly, a blog search of bubblemeter showed no comments from any of these blogger handles."
I think perhaps your internet-fu is not strong.
So, no interest in explaining your comments now that you have the thread where you originally posted them?
I think it is pretty clear from that discussion thread that your predictions were not taken out of context.
Leroy,
If you don't want to post your comments that is up to you. I stand by mine. What part of "hell, no one knows what will happen in the next 5 yrs" do you not understand?
What part of "prices will drift lower" is "pumping". Sorry, Leroy, but it's always been the particular "deal" for me. And I've always suggested that one can find a bargain in any Market if enough time and energy is put into the search.
In the comments you posted, I stated accurately that my concern was monthly cost - not 5 yr pricing. I see no deception there.
I have no desire to argue with you, or anyone else, about semantics and cherry-picked comments. I am an investor not a fortune teller. If you guys have the guts to post your handles, then we can analyze everyones past comments (and even cherry-pick if it advances our cause - whatever that may be).
I just think that if you want to play the expert, you at least need to acknowledge your own track record.
I can see that your willingness to own up to your own poor predictions and advice is no greater than lance's, it doesn't speak well to your credibility.
"What part of "hell, no one knows what will happen in the next 5 yrs" do you not understand?"
Well, I guess it is the part where you were arguing with a bunch of people who did accurately predict what would happen to varying extents.
I could believe you were simply unaware of the many people who predicted the bursting of the bubble, but the fact that you spent a great deal of time on a blog dedicated to that very topic, trying to convince the people there that there was no bubble makes that claim pretty unbelievable.
You may not be able to understand how it is that so many people were accurate in their predictions while you yourself were not, but you can hardly claim you were unaware of their predictions.
As for ...
"What part of "prices will drift lower" is "pumping". "
You think what we have observed is prices "drifting lower?" It is disappointing to me that you won't simply admit what is obvious to anyone who read that thread.
You didn't think prices would fall more than slightly, and thought it was a good time for people to "lock-in" their interest rates.
Since then, prices have fallen dramatically and so have interest rates.
VA_Investor: you're right: if you've owned investment property for a long time, it wouldn't have made any sense, at least in the long-term, to cash out. But for an individual like me, it made sense to cash in my primary (er, only) residence and start renting.
Also, I'm always NoVAwatcher. I've never posted on the bubblemeter, just here, HBB, and calculated risk (rarely).
Va_investor, I don't think I've ever posted on bubblemeter. If I have, it was either as ace or anonymous.
Leroy,
Has Arlington done more than "drift lower"? PWC resales were being posted left and right by you as a representation on the entire NOVA/DC region. You have an agenda, not me. You posted the "concentric circle" theory. It hasn't happened. There are reasons why that is so.
I, merely, posted my honest experience dating back to 1981.
I suggest we move forward. If you want to discuss 2005, 2006, 2007 and 2008 predictions and comments - then put up. The others now claim they made no comments. Odd that they know all the comments on bubblemeter, but never commented.
Clearly, I stand by my 25-40% off. As far as I can remember, the floor went out in the summer/fall of 2008 as far as economic/bank crisis. I, too, sold equities in the first quarter of '07. When, and if, rents crash I'll believe I was wrong. Remember (and acknowledge) I never claimed a crystal ball.
If you think it's wiser to rent, regardless of what house you may happen upon, then rent. It's of no matter to me.
VA_Investor, would you please stop with the thinly veiled, baseless accusations about other people here? It lowers the quality of the conversation. It's childish, to say nothing of being illogical - there is no reason why anyone who posts opinions here should tell you they didn't do the same thing at another site, if they in fact did. So, if you have some evidence of wrongdoing by someone, please present it; otherwise, please do move on.
Ace,
I didn't start it, but I'll gladly end it.
"Actually folks, in the interest of full disclosure, could Tom (arlingtonva); Ace; Alex; Leroy; and NoVAwatcher please provide their Bubblemeter handles?"
My handle was arlingtonva at the housingbubbleblog.com and I started posting there in 2004.
I stopped reading (mostly) and posting to these blogs over a year a go because finally what we were saying all saying at thehousingbubbleblog came true.
I can't believe after all that has happened, after all your encouragements for people not to worry "about the short term" in 2006 and 2007, that you have the cahones to give people advice.
va_investor,
You may never have said, 'I think you should buy now', but you clearly had an interest in spreading doubt.
hbb, bubblemeter and others were extremely helpful to me because I was able to think and share ideas with other like minded people, despite trolls like you attempting to spread uncertainty and doubt about the impending crash.
I can't believe in April 2009, as we stumble through this financial catastrophe, you are still trumpeting tired RE cliches.
Tom,
I'm sorry that you feel that way. I had no reason to tell anyone anything other than what I thought.
I had/have no reason to lie to anyone about the pro's and con's of buying RE.
There was, and exists, alot of hate out there regarding anything having to do with RE. If you think that I was (mis)leading people down the "yellow brick road", you are mistaken.
If you go back, you will see that I was mostly called a liar about the houses we had bought. And further called a liar about what was possible to buy.
The most animosity came from the 20 somethings that expected (felt entitled) to live in luxury.
They made fun of my "walked a mile to school" stories. Claimed it was all lies.
"Has Arlington done more than "drift lower"?"
Ah, we are back to Arlington again... funny how the smallest county in the region gets so much attention. Go reread the thread. It is more than clear you weren't speaking about Arlington specifically.
"PWC resales were being posted left and right by you as a representation on the entire NOVA/DC region."
That is simply untrue. Feel free to back that up or retract it.
"I, merely, posted my honest experience dating back to 1981."
Uh huh... Your "honest experience" seemed to consist of a whole lot of playing Lance's sidekick, giving out bad advice, and insulting renters.
"I suggest we move forward."
Yes, you would, but if you want to claim you are an expert then your track record is relevant. As I said before, the fact that you seem unwilling to acknowledge your mistakes does not mark you as someone to take advice from.
"If you think it's wiser to rent, regardless of what house you may happen upon, then rent. It's of no matter to me."
...and lets not start with the strawman arguments.
"I suggest we move forward."
That's a good plan. Don't argue with little minds. They'll pull you down.
EARLY 2007:
"the worst may be over. I see no evidence suggesting a bursting of any bubble." -VA_Investor Jan 7, 2007
"Past cycles would suggest that we are in for a few years of relatively flat prices." -VA_Investor Jan 8, 2007
SPRING 2009:
"I never claimed a crystal ball." -VA_Investor Apr 12, 2009
Thanks John!
So nice of you to edit my remarks. It certainly saves everyone the trouble of actually reading the thread. Why would context have any relevance?
I just finished reading all of January '07 Bubblemeter posts. Very enlightening; but probably not the "light" you'd like all the good people here to see.
In the future, I'm sure we'd all appreciate a link to the thread rather than your carefully chosen snipits.
Now I think I'll move forward.
My snippets were unedited portions from full quotes provided by Leroy on this page. I think the context is clear to everyone.
John,
Just post the link.
"unedited" snipits of Leroys "full quotes" -- are you serious? Cherry-picked sentences taken from threads of 40-80 comments?
Bubblemeter archives Jan '07. If you think one month's worth of threads is sufficient; then at least link the threads for that one month. Unless, of course, that wouldn't further your cause - whatever that may be.
THEN, the context will be clear.
Also, I included the entire thread so there isn't really any question of your quotes being taken out of context.
"Now I think I'll move forward."
I can't say I blame you for wanting to, but what is disturbing about this is that you seem intent on moving forward without even acknowledging the bad advice you were giving out for years.
As I said before, an inability to admit when you are wrong is not a desirable trait in someone who claims to be an expert and wants to offer people advice.
Link it Leroy.
va_investor
perhaps it's time for me to unsubscribe from this thread...
But, if there's context that you feel has not been brought out here, at some point it's incumbent on you to link to it. The thread from which the comments were taken was linked to this weekend. No one here is obligated to act as your defense, and anyone who wants to read the context in full can, but if you think there's exculpatory or explanatory or excusatory commentary that isn't being portrayed, by all means go find it yourself and post the link.
Va_investor,
Your claim that every one of your quotes are taken out of context implies that you want us to believe that you believed the opposite of what you said. Look at this quote for example:
"I see no evidence suggesting a bursting of any bubble." -VA_Investor Jan 7, 2007
What context is missing? What did you "really mean" by that statement? Did you not mean that you saw no evidence suggesting a bursting of any bubble?
Cara,
You are right. I guess at this point I'm going to stop myself from being baited into these type of "games".
"Link it Leroy."
Again?
It was already in my post at 12:28PM on 4/12...
Here it is again:
http://bubblemeter.blogspot.com/2007/01/bubblesphere-roundup.html
If you prefer...
http://tinyurl.com/d2upyu
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