Classical economic theory says markets are rational. According to the theory, we don't need to regulate markets or control them, because they always behave rationally. At risk of oversimplification, the idea is that principles of Supply and Demand take care of things. If people want it they will buy it. If they don't they won't. No need for government to interfere. You cannot legislate morality or fair prices or anything else when it comes to markets. Hmmmm........WHEN IT COMES TO REAL ESTATE.....Was 2000 - 2005 Rational? Was 2006 - 2007 Rational? What would be rational for the market to do in 2008?Penny for your thoughts? Search Toledo Homes For Salewww.HomeFinder100.com
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