I wrote long posts, with pictures of empty McMansion neighborhoods and deserted stripmalls, talked about how big the surplus was in places like Tulsa and Tampa - and they couldn’t understand the implications of an oversupply reaching ten percent.
Bankers were the worst on those threads, which tells you a lot about how the country got in this situation.
I remember. I often lent my voice to the “bubble is about to pop” side. I found it incredible how obstinate some were in the face of facts that could not be disputed. Yes, there were always questions about the specifics of “when” and “how deep,” but the fundamentals of the bubble were obvious.
It was both frustrating and sad.