[quote=Rt.66]This is an article everyone interested in RE values should read. It certainly falls into the doom and gloom catagory, but its hard to fight the reasoning IMO.
Lot’s of charts drive the points home, we are in an historically difficult situation.
Without real jobs I can’t see the US pullling up from this plunge without the pain discribed. Where will the jobs come from? The fake FIRE jobs are disappearing at break-neck speed and the American people have no sense of job protection/support anymore.
RE has a lot farther to fall. If you don’t know that then you are just like the folks during the great depression who fell for the sucker rallies. Yet probably even more blind, as we all now have easy access to the facts and figures underlining the deterioration of the still over-priced RE foundation.
Or, are you one of the folks that believe the greatest bubble in history will not follow the path of every other bubble?[/quote]
This is a very important article. Highly recommended to everybody.
