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The home price runup was based solely on Alan "Bubbles" Greenspin's credit/liquidity bubble. Wages haven't increased ( adjusted for inflation) since around 1990, so when home prices get back down to 1990 levels, people will again be able to afford them. Thus, anyone expecting to see a bottom in housing in the near future is entertaining a fantasy.
Nov 02 21:40 pm
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All Comments by axelrod608 »Bad News for Housing [View article]