The prospects for real estate in the United States are grim. This is the mechanism by which real estate deflates.
The adjustment in the world economy is accompanied by much higher interest rates in the U.S. This dampens the price of real estate. Prices will remain at the same level as today and not inflate along with the prices of food and energy.
Japanese House Prices 1979-2005:
Extra Credit / Required Reading:
- Dollar Strength on Recognition of Worldwide Crappiness
- Robinson Crusoe and the Subjectivity of Desire
- Reflections on Today, from Henry Clews, 1908.
- Art Market Rules
- The Long View... 1885-2009
- Forecast: The Battle Between Paper and Tangible Assets, A Personal View
- Tobin's Q
- Luxury Goods
- After the Gold Rush...
- The Gaussian Fallacy and other Bullshit Baby Boomer Epistomologi
- Douchebag of the Noughties
- Synopsis of the Panic of '08
- You Know its a Bubble When...
- Quantitative Easing
- Vallejo, CA
20 November 2009
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