Sunday, March 2, 2008

Where are they now?

I just read the Fortune Article that was written during the Great Housing Bubble - Riding the Boom. Very interesting article written about what was going on in the West during the bubble. If you have not read or read it years ago have a look. From the authors' tone it seems if they are anticipating the end coming soon and is a bit stunned by the investing they were witnessing. The profiles of the investors were great - very vivid. I would love for them to do a follow-up piece and showcase where the people are now.

Most of the people profiled were still buying up everything in site - site unseen - at what are now the highest point in the bubble. Some had planned to hold the properties for a few years to be able to cash out a the highest - this would be selling time - so I wonder how the people are doing. More Casey Serins? What is the status of the young Trump wannabe who decided to become an investors rather than go to college - and learned all his skills from a cousin during lunch??? What about the investor that really did not seem to understand the money side of the deals - just trusted his sister? What about the woman on the purchase tour that was so anxious to snap up properties and felt that it was a waste of time driving by to actually see her purchases? Were are these people now and what do their property portfolios look like?

These profiles should be reviewed daily when we look to clean up all the havoc wreaked from the Great Housing Bubble.

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