He says there is no bubble then quotes "If unemployment spiked, prices could drop 20 to 30 per cent, he says"
Now if that isn't confirmation of a bubble I don't know what is.
Median say 450K.
30% drop 135K
New price 315K
How many people could sustain that sort of loss, when most aren't even paying it off but using any equity as an ATM card?
banking on unemployment , page-3
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