For two reasons I am wearing sunglasses these days. The big black Jackie-O
shades.
They cover one black eye from the housing market, and the other from the stock market crash as my 401(k) is now a 201(k). Ironically, the guy with his hand on the tiller can't explain what hit us.
"I made a mistake in presuming that the self interest of organizations,
specifically banks and others, was such that they were best capable of
protecting their own shareholders and the equity in the firms,"
Greenspan said.
Oops.
On the other hand (I sound like an economist Harry Truman would have hated, which I am not), the sunglasses are shading the bright long-term real estate horizon here in San Diego. Yes, I am a pragmatic optimist. Read the experts carefully and you will see the 'buy low and sell high' sign is telling us, "we are at or nearing the bottom so buy now."