Finally, the first real publication to talk about a potential housing bubble. All this talk of the housing market only going north reminded me of the dot com bubble. It was the new economy and the valuations were justified. This time around, everyone keeps on saying how everyone needs a place to live, they forgot one key piece of the equation = affordability. I’m not expecting a crash but a reality check is most definitely in order. full article
The key rainmaker during the Halcyon induced days of the dot com bubble was sentenced today to 18 months. The federal guidelines were 10 to 16 months. For a guy that at one point made over $120 million in a year, I’m sure he’ll appeal the decision. The case was brought against him b/c of his alleged IPO stock allocation to his friends and people who did investment banking with him. Ironically, he invested in many high tech companies but what got him in trouble was a simple e-mail to his colleagues that said “clean up” your files.