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A comment on San Francisco Bubble. Parent comment
Why does it take so long for the market to correct and why does the market allow such huge variance from normal?
I think the answer is obvious, people get acclimated to their environment very quickly and lose the ability to see systemic problems.
Therefore it seems the market will tend towards local minimum. Similar to how evolution works. It doesn't handle gross changes without a lot of pain.
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Why does it take so long for the market to correct and why does the market allow such huge variance from normal?
I think the answer is obvious, people get acclimated to their environment very quickly and lose the ability to see systemic problems.
Therefore it seems the market will tend towards local minimum. Similar to how evolution works. It doesn't handle gross changes without a lot of pain.