That was Gregg's first post. Housing Panic responded with:
HousingPanic, a particularly vitriolic BubbleBlog which is saying something
Realistically, how overvalued are Phoenix home prices?
Obviously, I consider this a profoundly silly question, but to lurk among the BubbleBloggers and their seething commentariat is to acquire an education in a slice of America invisible from this side of the sewer gratings. Notwithstanding the idiotic economic analysis, which is really no worse than the static-market fallacies paraded as profundities in the pages of the Arizona Republic, these sites and not just HousingPanic are infested with a cult-like fever to inflict suffering at second hand, to be sure on people who are in fact guilty of nothing except failing to have drunk the BubbleBlogger KoolAde.
That's all one. I don't care. The whole of the last century was dominated by the bad behavior of viciously angry wretches, but look where it got them. The BubbleBloggers will someday bawl balefully in private, but they will never, ever admit that they have been very publicly very foolish. You will know and I will know and in the secret chambers of their hearts they will know they were wrong all along. But as long as you don't hold your breath waiting for that contrite admission of error, you should be fine.
This "attack the messenger" stuff will just get worse and worse I'm afraid. Where the bubble bloggers may even take some blame for the economic meltdown and people's misfortunes.
I think HP does good - at least for anyone who listened starting a year ago, and for first time home buyers a few years from now who'll be able to afford a home. I blog to warn others, and to expose the corrupt and powerful REIC, pure and simple.
Here's the attack by "bloodhound realty" (nice name). Feel free to respond on their site, make the author look like the ignorant fool he is, but play nice.
BloodhoudBlog responded with a second attack on the bubbleheads who left many posts his blog arguing that a significant decline will occur in Phoenix:
The BubbleBrains swooped in en masse today, having only just now discovered my 21 reasons to bank on the Phoenix real estate market. Courage, confidence and competence are often found together in a solitary soul, but cowardice, cowering and impotence these are the attributes of character of men who run in packs. I am more than libertarian enough to let them go to hell in their own way, but it seems only common courtesy to point the way. So I sent them hither and thither blithering Bubbleheads lathered up into a dither. Now that's just good, clean fun.Bubble Meter Blog proudly stands with Keith and others who are fighting to reveal the reality of the very significant decline occurring in the US bubble markets. The housing boom is a speculative episode, and like other speculative episodes, it will end badly. I will continue fighting for the truth, while taking on those corrupt, manipulative and deceptive elements in the housing industrial complex.