I was referring to actual,historical real estate BUBBLES that had nothing at all to do with the stock market,which the '20s Florida land cons did.And once the market crashed,lots of things,including real estate fell apart.Whereas the properly named real estate BUBBLES of 1873 and 1890,where separate and distinct BUBBLES on their own.
Today's real estate prices have been tied,more or less, to the market and the stock market hasn't crashed.:-)
B-b-but that fine Mr. Ponzi was a player in the real estate crash of the 1920s. He would never get involved with anything dubious...
I've had this discussion with others here. My theory is that certain home owners are the next Argentina. The market crashes, but the banks will hustle to do work out agreements -- re-structuring the loans -- as to not take a loss. Some people may walk away from a $500,000 mortgage on a $275,000 home, but not many.