This is what happens when one cannot think critically and try to forecast the future. It’s lazy, but easy. Still wrong tho
Discussion
For example during Covid there was peak real estate fomo. Bidding wars. Since this was currently happening, ops assumed it would always be happening. That price would keep going up. But it was a phenomenon based on fear, greed, low interest rates, stopping the economy for a pandemic, high salaries based on cheap debt, etc. now the world is getting back to normal and these bag holders are still trying to charge peak prices and are wondering why they can’t sell. The ops didn’t have the foresight to understand that the fomo was temporary and it was impossible to keep up. Now they are like, we never said that. It was obviously going to slow down. Now it is cheaper to rent than buy, which is something they said would never happen. They clearly were poor back in 2008 and didn’t learn anything from it
Luckily trades are zero sum. One man buying the top and losing money is a good deal for the patient guy that had discipline to not follow the herd
