john m at greaterfool.ca 19 Jun 2010 7:38 pm -
“A whole lot of people in BC are going to take a serious bath in real estate…and it never just started happening..it has been going on for years.. I know, I was a builder there until things no longer made any sense..(that was 8 years ago and look at the prices now)—greed and stupidity can not explain what has happened there…reckoning day is inevitable…….”
“greed and stupidity can not explain what has happened”
Then what does explain it, ghosts?
Greed and stupidity (well I would say ignorance, as many people arent stupid, just unaware of certain things) are the best explaination for bubbles in general.
davers -> Agree re greed and (willful?) ignorance.
I think john_m may mean that things are so extreme here that common greed and common stupidity can’t explain it all… In other words, I think he’d generally agree with you.