Of course I mis-characterized it. I meant to, only to show that the bubble is not priced in Euros. The same goes for gold, or oil.
Again – the info you supplied is really fascinating – that housing prices are still falling in dollars, even while the dollar is being devalued, is a testament to the severity of over-speculation, which is the real cause of the bubble.
In fact, at this point, it seems that housing will drop with the dollar. If the dollar is dropping, that means the FED is cutting and/or printing, which means the credit markets are suffering, which means the banks aren’t loaning money for houses.
