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October 23, 2004
The Bubble is Bursting
This is just the tip of the iceberg. Here in the High Desert of California, a housing bubble has been steadily expanding for a couple of years now. Well, now the realtors I know, who just a month or two ago were bragging on their sales records and offhandedly talking about how many five-figure commissions they were making, are now gathering at the office after-hours for "cold-call parties," i.e., telephone soliciting for sales, and, now, they rub their hands together gleefully if a single sale is closing escrow later in the week. The meltdown is coming.
Posted by Patrick Yancey at October 23, 2004 05:08 PM
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