Thursday, September 22, 2005

Bubble Denial

I'm at the California Association of Realtors Expo in San Diego. Lots of bubble denial down here. This photo depicts the only exhibitor on the floor who dared put the word "bubble" into print. Most just use it in conversation or during panel discussions, and even then they laugh it off as some kind of fairy tale that's never going to come true. I don't disagree with their assessment that there is no national housing bubble, but there certainly are a lot of local ones and that's where the denial exists. There's one in LA, and one down here in San Diego. So, I grabbed a piece of their bubble gum and smiled. Everybody smiles here. Must be all those big commissions.

Because I'm at the Expo and then will be traveling back to LA, I won't be posting much today, but will have much to report soon.

— The Boy in the Big Housing Bubble