[lbo-talk] origins of the housing boom

[// ravi]

On Aug 29, 2011, at 5:57 PM, shag carpet bomb wrote:
> 
> In other words, what amazed me was how, in the midst of clear and
> obvious evidence that a house is only worth what a buyer is going to
> pay for it, i was still told I had "instant equity"!
> 
> i don't even want to know what words like that do to buyers who now
> think they have "instant equity"!!!!!
> 
> i can't even fathom what kind of frenzy went on during the boom.
> 

No shit! It’s sad.

On a different note, I hope the higher appraisal tax does not mean higher property taxes for you!

	—ravi