Psyching out the 'Facebook effect' Around Town, posted by Editor, Palo Alto Online, on May 19, 2012 at 6:44 pm
The rumors are flying: Once Facebook goes public, scarce housing will become even scarcer; prices will go sky high. Best to hold onto your house and list it after May, when Facebook's initial public offering is expected; best to buy now before the hordes enter the fray. We're doomed.
Read the full story here Web Link posted Thursday, April 19, 2012, 4:33 PM
Posted by jack, a resident of the Charleston Gardens neighborhood, on May 19, 2012 at 6:44 pm
Well the stock will tank these next weeks. And then there will be flood of houses coming onto th emarket as people realise that prices will not keep on going from where they have left off these crazy 4 months!
The over exuberance, the daily pumping up by Ken Deleon, the agents pushing their clients to bid 25 percent over asking price will all stop.
Facebook tanking will have a huge psychological downer. All teh social companies will be running scared.
And those guys cannot cash out for 6 months! Thats Christmas folks, by which time the stock price will be around 5 dollars where it should be.
So all those new millionaires will be instead have 250,000 for a downpayment.