I agree with deadzone. And I would add that the effects of unemployement (as opposed to the effects of real estate speculation) are only beginning to be felt.
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The effects of unemployment are only beginning to be felt ?
Unemployment has been at or near 9% for almost 2 years. Did all these unemployed folks continue to buy houses at the same rate over the past 2 years? (real estate figures indicate otherwise). Did they spend at the same rate ? (GDP figures indicate otherwise).
I must have completely missed your point. What do you mean by this ?
