Housing Bubble Accomplices Preparing for Death: Caroline Baum
By Caroline Baum
April 12 (Bloomberg) -- Each asset bubble has features and sponsors unique unto itself. Some folks went wild over tulip bulbs in 17th century Holland while others flipped over not-as- yet-constructed Florida condominiums almost four centuries later.
Yet they both -- they all -- share one thing in common, and it has to do with human nature. Just as terminally ill patients go through five stages of dying as described by the late psychiatrist Elisabeth Kubler-Ross in her 1969 book, ``On Death and Dying,'' so, too, do bubble participants experience denial, anger, bargaining, depression and acceptance.