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To: Lorianne
I don't feel very sorry for most of those folks Pelley showed in his story - especially that lady in South Beach/Miami that was buying up condos as an investment, without having a clue about what she was doing. Markets were way over-priced due to the ease with which money could be borrowed.
16 posted on 12/15/2008 11:02:16 AM PST by smokingfrog (I'll go green when they plant me in the ground.)
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To: smokingfrog
that lady in South Beach/Miami that was buying up condos as an investment, without having a clue about what she was doing

The prudent guys in the '20's who got out before the crash, had a saying: "when you start getting hot stock tips from the kid operating the elevator, it's time to get out." Maybe when some nitwit acupuncturist starts to think she's a real estate magnate, it's a sign that the bubble is about to burst.

Of course we used to have a bunch of boomers around here who insisted that a housing bubble was impossible. Haven't heard much out of them lately...wonder where they all went.

78 posted on 12/15/2008 5:25:50 PM PST by hinckley buzzard
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