Paul Meisel

Reflexive Changes in Real Estate

I got a kick out of that site. It is mostly California, where real estate inflation is best known outside of the island of Manhattan....

In less inflated areas there is less panic, but I still hear from realtor friends quite regularly about someone who is selling to avoid repo, and there have been a couple on our block in the last couple years in our modest neighborhood, although the developer made a deal with the bank to buy cheap and keep it out of the paper.

Mostly it still seems to be people who made poor purchase decisions, but isn't that what people mean when they talk about Mr. Market?