[Notary Sojac]

The housing market crash was the same way. The Street believed housing prices would never go down.

This is absolutely 100% unadulterated BULL***T.

I knew housing was heading for a fall in 2004 when I saw homes in my neighborhood going to $500K from $200K just three years earlier. Prices that -no one- who lived there at the time could ever afford without a suicidal mortgage.

Lots of others saw it coming too.

The Street knew that housing prices would crash, and that its friends in Washington would step in to stick taxpayers with the tab.

[VRW Conspirator]

The Street knew that housing prices would crash, and that its friends in Washington would step in to stick taxpayers with the tab.

They knew, many knew. The Dems in Wash-DC knew it and planned to blame Bush for it (that worked). Frank and Dodd refused to do anything on their respective committees in House and Senate, deliberately. Guess who retired right after, Frank and Dodd. They got their "pay-out". This was a crisis brought by the Fed-Gov as the mob boss and all the capos made there money.

[hinckley buzzard]

I don't know who "The Street" is, but we had a contingent of freepers here who were absolutely convinced that "this time is different."

[moovova]

Bingo!

There was no possible way income increases could’ve kept up with the rise in housing prices. When lenders/govt stepped in with their specialty cocktails to extend the housing party (think subprime), it was only a matter of time before “last call” was given.

The hangover was well deserved.

[upchuck]

Agreed.

Bump!

The housing market had nothing to hold it up so it crashed.

Just like the stock market today. Nothing but froth. Not a good place to be.