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Early warnings of a bubble in housing from 2004

It's amazing, isn't it, how often we ignore sensible advice when it seems unfashionable or less than desirable?  I was thinking of that when I ran across an article published in Money Magazine in 2004.

 

Among the author's observations:

  • Owners have unrealistic expectations
  • Housing is increasingly unaffordable (too many millionaire mansions)
  • Signs of a slowdown are emerging in many areas
  • Housing debt is getting worse

They conclude with the cautionary note:  If something can't go on forever, it won't.  Had we but listened!

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