For starters, adjusting for inflation is BS, 1990s maybe even 1980s prices here we come (no adjusting necessary).
Some engineers are doing really well while some are getting laid off; generally workers are losing jobs in droves.
Japan’s own charts show the US housing bubble was much worse than the one that sunk Japan into nearly 18 years of RE declines and counting. Doubters may lump land, CR and housing together if they need to in order to see just how worse off we are than Japan.
Japan pumped money into its system with bailouts and none worked. We are using the Japan model in dealing with this crisis. And surprise, billion$ pumped into our system go straight to zombie banks and into banker pockets.
IMF and other world leaders and economists say this mess is just starting to get ugly.
Those who purchased recently, are hoping for a fairy tale market turn around to restore their equity, make a living selling houses or those just too antsy to remain on the fence will try like the devil to convince themselves and others that this is somehow not just getting started and somehow this will avoid getting much worse.
Housing priced at 50% off the greatest bubble in history is not 50% off, it’s the regular price. If you are looking for a real discount on RE…..it starts at 51%.
