Reply To: Spain, Ireland and threats to the property boom


@Pablo Silver or Lead? wrote:

(beware when the shoeshine boy/hairdresser starts giving BTL tips!) .

This is what Keynes used to say. Only that he spoke about shares. On hearing the shoeshiner recommend him stocks he immediately sold off all his portfolio. That was in September IIRC, September 1929. We all know what happened in October. Funnily enough, in the early twenties Florida was also awash with a real estate frenzy boosted by easy credit from lenders.

The posts in this thread written by Pablo are some of the best I’ve read lately. People would do good to heed them.