"I’m a Canadian living in the US and my friends back home don’t want to hear anything about a housing bubble. Telling a guy his house is likely overvalued is like telling him his wife has a fat ass."

Two thoughts: RE is an emotionally charged asset. Canadians who have seen the US bubble aftermath first hand appear to have perspective that many here at home lack. -vreaa

Nick at greaterfool.ca 16 Jun 2010 8:55 pm -

“I’m a Canadian living in the US and, boy, my friends back home don’t want to hear anything about a housing bubble. Telling a guy his house is likely overvalued is like telling him his wife has a fat ass. Here, in L.A., owning a house is something that makes people nervous, it used to be an asset, and it’s now a liability.”