WALLACH WISDOM: AN UPCOMING COLLAPSE

Housing continues to rise. Many contractors are building more than they did in 2005, and some think we are on the verge of a collapse. Two thoughts on that: Nobody knows and they could be right; and I think we are only recovered in most markets, not being over built. There are fewer builders in the market than there were in 2005, so it stands to reason that current builders are doing more. Remember that your best defense against the future crash, whenever it comes, is to not own lots or raw ground.