Reply #55: Around 2006, spouse & I saw major disconnect about housing [View All]

[DemReadingDU]

Who could buy the McMansions when so many people were getting laid off? At about this same time, a new town-concept upscale shopping mall was built. We wondered who could shop there if there were huge mortgage payments to be made, or were laid off. Restaurants did well, still are, people must be using credit cards to eat.

But it wasn't until spring 2008, when I connected the dots, and sold stocks, and put proceeds into CDs and Treasury Bills. Warned my family. But I'm not a 'professional financial planner', I just read blogs. No one listened. I'm warning them again, but they refuse to get out, because they might miss the gains.