So you sell your house, where are you going to live? Do you expect to buy again cheaper later or just rent? Whomever buys your house what rental would they expect to cover there expenses? Would this rent be so high as to justify you buying again? How much profit do you think there is for builders in new dwellings? How much profit for the land developer? Do you really think there is 60% profits on new houses and 90% on land? Do you think according to Mr Wirsz's logic it would no longer be profitable to build new dwellings therefore sooner or later demand will outstrip supply with a housing shortage in the future.
Armageddon-esque warning? If it happens I would be more worried about not having a job because it will be Armageddon and you wont even be able to afford rent. The Feds would lower the interest rates in my view to avoid this. Correction maybe but not those percentages.
