Comments on: Major Turning Point? — Robert Schiller http://www.fundmasteryblog.com/2007/08/21/major-turning-point-robert-schiller/ Mutual Funds, Investing, Retirement, Economy, Personal Finance Wed, 07 Jan 2009 13:08:43 +0000 http://wordpress.org/?v=2.3.1 By: liz zaleski http://www.fundmasteryblog.com/2007/08/21/major-turning-point-robert-schiller/#comment-1752 liz zaleski Tue, 04 Nov 2008 11:03:40 +0000 http://www.fundmasteryblog.com/2007/08/21/major-turning-point-robert-schiller/#comment-1752 I watched my neighbours' reactions in Australia as their housing prices doubled, trippled so on - it was all they could talk about, all they obsessed about and all they valued. They thought that they were so clever, that they had achieved it with their very own wit. It was a sort of mass hysteria where I lived. Yet none of those people had gained anything except paper value. They were starting to loose the wonderful Australian way of life, where everyone could afford a home of their own. No-one except me seemed to give a damn at what it was doing to destroy our eglatarian culture. Now many young people cannot have any hope of buying a home of their own - they are pushed into rentals. I watched my neighbours’ reactions in Australia as their housing prices doubled, trippled so on - it was all they could talk about, all they obsessed about and all they valued. They thought that they were so clever, that they had achieved it with their very own wit. It was a sort of mass hysteria where I lived. Yet none of those people had gained anything except paper value. They were starting to loose the wonderful Australian way of life, where everyone could afford a home of their own. No-one except me seemed to give a damn at what it was doing to destroy our eglatarian culture. Now many young people cannot have any hope of buying a home of their own - they are pushed into rentals.

]]> By: Phyllis http://www.fundmasteryblog.com/2007/08/21/major-turning-point-robert-schiller/#comment-1142 Phyllis Sun, 27 Jul 2008 16:02:06 +0000 http://www.fundmasteryblog.com/2007/08/21/major-turning-point-robert-schiller/#comment-1142 "and a lot of wishful thinking about how easy it is to make money, and both real estate and stocks have been at record highs. " This is a great summation, we believe what we WANT to believe "wishful thinking". “and a lot of wishful thinking about how easy it is to make money, and both real estate and stocks have been at record highs. ”

This is a great summation, we believe what we WANT to believe “wishful thinking”.

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