Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria. As a strong believer of this saying, I love to buy low and sell high instead of buying high and selling higher. I still recall vividly the shoe shining guy I met at the nyc airport in 1999 energetically talked about tech stocks, and the guy at the local Wal-Mart seafood counter was chatting with me on calls and puts on stock options. I knew at that time the perfect storm might be coming.
The above-mentioned will apply to real estate markets before long, in my humble opinion.
