Friday, Jun 23, 2006

Can of worms will open as prices fall

Firstrung: Real estate bubble to expose all kinds of fraud that people happily ignored as prices rose

Bubbles have a way of exposing all kinds of fraud that people happily ignored as long as prices were rising. When the party ends, the lawsuits begin. We saw the same thing when the dot-com bubble burst. We will see it again over housing.

Posted by Converted Lurker @ 09:43 AM (526 views)
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4 Comments

1. Markd said...

Bring it on....

Friday, June 23, 2006 11:39AM Report Comment
 

2. Bidin'matime said...

I thought the exposure of the self-cert scams a couple of years ago might burst the bubble, but it did not - people are still falsely self-certifying and lenders are still turning a blind eye. Heads will roll....

Friday, June 23, 2006 02:10PM Report Comment
 

3. Alsftl1973 said...

Are there any fancy lawyers out there who can formulate an argument so we can sue the evil VIs for artificially inflating the prices through their selfish un-audited greed - a la MCI Worldcom from the dot com boom - well I say un-audited, they were 'audited' by the now less than existent Andersen.

Saturday, June 24, 2006 09:42AM Report Comment
 

4. Btloptingout said...

The WorldComs and Marconi's will be CLNB (City living new build) 'appartments' and Property Investment clubs.

Saturday, June 24, 2006 09:49AM Report Comment
 

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