[quote=outtamojo][quote=Arraya][quote=outtamojo][quote=Arraya][quote=outtamojo]” Lack of building and less than trend household formation are bullish for prices in the far out future.[/quote]

This is making a huge assumption that we will be going back to historic economic growth patterns when all evidence points the contrary and in fact is probably impossible.[/quote]

In a nutshell, your assumptions are just as huge as mine and require just as much faith.[/quote]

Nonsense, because you don’t the slightest idea what I am talking about whereas I completely understand what you are talking about.

Economics is not a science. It’s a group of philosophers all trying to prove solipsism in a large circle jerk[/quote]

If you really understood what I was saying you would know that I was saying exactly what you said about economists and that is why I got such a kick out of the recent bump here http://piggington.com/us_to_default_on_its_debt_summer_2009

.[/quote]

Should I link Bernake’s quote in late 2005 that we are not in a housing bubble about to burst to refute this as evidence to the contrary?

No, it’s as irrelevant as that bump. Basically you are saying since this group of people said something negative and it did not come true therefore all negative comments about future economic developments are wrong. Or something to that affect.

Back to our original assertion regarding low building being bullish for future RE prices. I stand by my assertion that you are basing your wishful thinking on historical growth patterns, and nothing else, that have extremely low to practically zero probability in manifesting. Based on a confluence of macro forces that have never been experienced in modern history