Tuesday, March 15, 2005

RE Mogul On Why There Is No Bubble

Sometimes you have to let the story tell itself. Listen to Barbara Corcorans' reasoning as to why real estate can only go up.

"I think it's a much scarier world that we live in. When kids are scared, where do they run? They run home. People are staying home more..it's really reassuring for people to know they own the walls around them. People have also become more distrustful. People don't trust the government, they don't trust Corporate America, they don't trust the stock market. They trust their house."

"The movie 8 Mile, I believe, did for downtown Detroit what Ghost did for downtown Manhattan. I remember a stuffy couple I took down to Tribeca before Ghost came out. Then after the movie (premiered), they thought it was cool."

"I think the bubble theory is nothing more than an intellectual expression of people's typical worry that good times can't last forever. When your marriage is going well, you worry there's a problem on the horizon." Has she struggled with success? "Other than my boyfriend and business partner marrying my secretary, it has been my hardest transition."


At 3:14 PM, Anonymous Anonymous said...

Well american mortgages are much more scary than Ben Laden. The real kind of terrorism that is almost invisible for the moment. But in reality it is like a mini nuclear bomb under each asset people own. The tool of mass destruction is called debt, might I say hydrogen bomb debt. Thank you for your comments. What is scary is that it is the same thing in Canada and a lot of the G7 countries.


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