well heres the thing dhuy, the fall in the late 80's wasnt preceded by the most explosive real estate boom in history that was supported by unlimited credit on virtual non existent interest rates.
In fact quite the reverse. What you are seeing here is unprecedented. Its heading for a perfect storm in a mix of conditions never seen before in financial history.
I suggest you check out the four corners link provided on this link. Where the same guy who accurately predicted the dot com crash quite logically maps out what will happen to RE.
A poster suggested also what would happen if China and India were also slowed or taken out of this mix. The result would be frightening for your RE.
And quite simply a ration of 1:7 for wages versus house prices if unsustainable. Its not if it ends - its just when. There is no question about it
No I dont rent or live in a tent.
housing survey, page-46
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