People are Going to Hate Real Estate

After the tech bubble burst, I remember people would act so disgusted with the market and their stock holdings that they said they quit opening their monthly broker statements. It was almost that that decided that they did not want to be reminded of the stupid decisions they made a year or two earlier and so pretended that they bought no Internet stocks and the bubble never crashed.

I predict that starting this summer, people are going start to try to ignore the real estate market. Barbeque chatter will be steered away from the topic of real estate towards topics that are not as embarrassing for some. By next spring it will be worse though. If you bring up the topic of real estate at a cocktail party, you’ll, at best, hear mutterings about unethical agents and “shady” developers. Things are just starting to get interesting.