Wednesday, January 25, 2006

CNN's 101 Dumbest Moments in Business published its list of the 101 dumbest moments in business today. Several dealt with real estate, including this one regarding bubble ignorance:
100. Bubble? What bubble? Oh ... that bubble —
In May an Experian-Gallup national survey finds that 65 percent of Americans haven't heard anything about a possible "housing bubble." Another 12 percent have heard "only a little." Indeed, 70 percent expect home prices to keep rising, while only 5 percent think they'll slip. However, when the facets of a housing bubble are described to them, about 40 percent go on to say that the scenario is likely to occur in their area in the next three years.

— The Boy in the Big Housing Bubble