Thanks for the article. I agree very much that housing has masked a weak economy. As a country, we’ve been living on borrowed time.
1. Euphoria and capital spending based on the Internet.
2. Capital spending and employment based on Y2K.
3. Dot com bubble.
4. Low interest rates.
5. Real estate bubble.
6. Massive government spending on security and war.
I’m afraid that we’re running out of options to prop up the economy.
