Why is there so much Happy Talk???

[Brent Zande]

In 2010 I had the rose colored glasses knocked off my face hard and I am trying to understand why and how there is such Happy Talk right now about the economy.  I am trying to figure out if it is my pessimism based in the 2008-2010 experience or if I am completely missing something.  Even Ivy Zelman is providing happy talk about the future of home building and I tend to find her team realists.  I see so many businesses are struggling or have closed and though that is anecdotal I believe it is a harbinger of doom.  I don't believe the propaganda that comes from the Home Builders Assoc. There and a great many very smart people on BP so please tell me what I am missing or if I am right to see the coming apocalypse.

[Steve Morris]

"how there is such Happy Talk right now about the economy."

1) We had a great economy before COVID

2) Stock market is still rising

3) Rates are all-time lows

4) Pumping a ton of money into the economy

I agree with you, but there are factors beyond mere human comprehension.  However, it's all based on what other people do, you need to decide what's best for you.

In 2009/2010, I spent all day telling people to buy apts.  The prevailing wisdom was you're an idiot if you buy.  The guys that bought are very happy (even the few I had to "nudge") and have doubled their price and in cases 10x their equity.

Today's advice - If you're going to sell in the next 5 years, do it now.