This is terrifying...

[LADoc00]

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Anyone interested in US financial health:
http://www.housingbubblebust.com/index.html

I got a shiver down my spine just reading it....

 

[Bobblehead]

Here a couple of others I enjoy reading whenever I think I should buy before I get that 20% down payment:

http://www.housingbubblecasualty.com/

http://bubblemeter.blogspot.com/

http://thehousingbubbleblog.com/

 

[etf]

well, everyone still needs a place to live...

 

[mshheaddoc]

🙄

chicken little, chicken little! 😀

 

[LADoc00]

well, everyone still needs a place to live...

Yeah, the only problem is new contruction has been over double the rate of population growth......so unless illegals are crossing the border now with the 20% down on 500K condo in San Diego, **** is going to hit the fan in a very big way. Some academic economists are saying this could be a recreation of the 1929 perfect storm conditions. Even NYT Bestseller Rich Dad, Poor Dad author is telling people to shift investment to precious metals.

 

[LADoc00]

If you calculated % increase in housing over not 5 years, but centuries and current housing prices came back into line with those historic numbers, even when you take into account population growth AND inflation, many mega bubble markets are overvalued by 70%!! I think some people are seeing the writing on the wall now that in the not so distant future, homes will be going for dimes on the current dollar asking price. This isnt crackpot doomsday cult theory, this is leading world economists, hell even the the World Bank issued a memo saying the US housing bubble will likely burst with effects that will ripple throughout the world banking system. Anyone holding property: sell now or bear the consequences.

 

[Jocomama]

In a prior post - read Bill Gross August Commentary www.PIMCO.com
and yes, the tulip of our time is starting to drop in certain geographic areas
I am unloading my house - not renting anymore
My friends that buy condos are on the sides with cash waiting

I agree - check out PIMCO - he shows some very clear stats and graphs along this line.

If you calculated % increase in housing over not 5 years, but centuries and current housing prices came back into line with those historic numbers, even when you take into account population growth AND inflation, many mega bubble markets are overvalued by 70%!! I think some people are seeing the writing on the wall now that in the not so distant future, homes will be going for dimes on the current dollar asking price. This isnt crackpot doomsday cult theory, this is leading world economists, hell even the the World Bank issued a memo saying the US housing bubble will likely burst with effects that will ripple throughout the world banking system. Anyone holding property: sell now or bear the consequences.

 

[LADoc00]

Wow