The point you completely miss is this: unlike gold prices, home prices have to be in line with wages in order for people to sustainably afford them. The overuse of negam and teaser rate mortgages and the current surge of defaults (as the piper demands payment) proves this.
You can talk all you want about the demise of the dollar, but if dollar-denominated wages aren’t keeping up with home prices, your argument is toast. Unless you are of the “foreigners will forever happily lend money to deadbeat homeowners” school of thought, aka “this time is different.”
On that note I’m calling bullshit that Rich ever said or implied “this time is different” — citation please.
There are lots of other problems with your posts but I’m getting bored already.
