As far as globalization is concerned, I believe that 2000-2005 was the euphoria stage. There are now plenty of desirable place being developed around the world so our cities will eventually no longer be as attractive to foreigners.
Think of the 2nd and 3rd tier cities of Europe. They are lovely but are you going to buy a house there? Only 100 years ago, American cities were nothing compared to the cities of Europe. We’ll see that same shift to Asia in the 21st Century.
Population growth will stagnate in 50 more years (even in China) and we’ll have to come up with a new business model.
I just read that miles of beaches are being developed in Montenegro which is experiencing a property boom of its own.
The property boom is world-wide and if this continues we’ll end up with a glut of housing/resorts/hotels/offices.
