“House Prices Will Be Flat For 10 Years”
Maybe good news. Our houses are supposed to house us, not make us rich. Our latest housing trouble is because too many viewed housebuying as a means of making money.
Shiller says home prices will be “about where they are now” after adjusting for inflation.
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In another 5 years we will all be billionaires (or better) and a McCoffee will be on the value menu for $20,000. But our salaries will be half the current amount (adjusted) and there will be absolutely no sales to back up the valuations ... no new construction either as a single 2*4 will be $60,000 and most trade supplier companies will be bankrupt.