Mike from NY says people got talked into buying a house when they had no business doing so:
"...all these people thought they were Donald Trump."
And Ed from Yorba Linda, CA explains (and provides his own chart), the phases of market psychology:
"Glad to see the flippers are getting back into action.....so maybe the TV show on HGTV "Flip This House Again" will have some new prospects.. look at this chart below we are only in the denial Phase...you will know we are at the Despondency phase when all the flippers have new jobs as foreclosure agents ."
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