“On the flip side, after a bad spell that lasts this long, the rebound could be stronger than the conventional wisdom would otherwise indicate. That wisdom consisting of “everybody learned their lesson and won’t make that mistake again”. Beware of that one – I thought that way after the bust of the 1990s and I was exponentially wrong”.

Bugs,

That’s because the younger generation (14-16) will have forgotten in another 10-12 years how bad things are today and will probably chase prices again at some point. There will be the typical “it’s different this time” mantra going around but the results will be the same. The next time won’t be as bad because I don’t think we’ll ever see the feds let things get away like they did the past 5 years.