I came across this article as I was looking for “Flip this house” on Google. What caught my eyes was the graphic that shows recession following steep increases in housing prices.
Just like what the majority here has been saying, this one is going to be really bad.
Great article! I always love recession stories, because it’s about time the media covered what we’ve been talking about here since last winter.
Also check out Roubini’s blog from 8/26, where he lays to rest the 8 perma bull reasons why housing won’t cause a recession. He makes strong cases for bank and GSE failures, and the biggest US recession ever. Nasty, deep, strong recession.
.
