re: re:depression coming soon-property
"I was going to a number of property auctions towards the end of last year to try to pick up a bargain and what I saw sent shivers up my spine. People were bidding with careless regard for what the price actually was. They'd be laughing while bidding ridiculous increases against others as if it was one big joke. They seemed to have the opinion that "it doesnt matter that I pay $600K for this property (that was selling for $150K 5 years ago) because "property always goes up" so I'll be able to sell it later to a greater fool than I."
This is the part I find most disturbing.....the laughing.
Is it such a big joke?
The current real estate agent catch phrase is, "it's only money", shouting it out during the auction and having their little elves pestering bidders.
