I found myself nodding while reading Property Soul’s book –
No B.S. Guide to Property Investment.
I see many similarities between her opinions about the property market and my views about the stock market. I will quote parts of the book and elaborate on these similarities.
#1 – Greed
“Property showrooms play up emotions. sales charts are marked with red dots. populate the sales gallery. hustling and bustling.”
“If everyone is buying, it must be the right thing to buy. If I am not taking action now, I am likely to lose out.”
“You may have just sold a property with a handsome profit that pushes you to repeat the same success.”
Regardless what kind of assets; tulips, stocks, properties, bitcoin; as long as it can be speculated, can be driven up in price due to greed from the participants. Booms and busts are results of human’s greed ......