[onewhippedpuppy]

I tend to think of bubbles in terms of sustainability, mostly because I’m simple. Does it pass the smell test? Does it make sense that in Wichita where I live, where there is no economic growth of note and their primary industry (aerospace) has had a number of recent layoffs, that houses are selling in 24 hours for over asking price with multiple offers? There’s no real growth, there’s not a shortage, so why?

I think there’s a lot of people with a lot of money and nothing to spend it on, so they are sinking it into all sorts of stuff. I think eventually they’ll all start asking, “wtf am I going to do with this?” I’m not just talking houses either, the same seems to be happening with boats, cars, RVs, and vacation condos. Someday when things are all open back up again, does the stuff and accompanying payment fit with their lives?