[ex-Texan]

You are behind the times. The bubble has already burst. Prices in New Jersey have fallen between 12.5 to 28% since May 19th. Prices in about fifteen counties in N. California have fallen about 10% - 12%. Now watch closely as real estate prices fall all across the country.

[Attention Surplus Disorder]

My only instance of surprise relative to the article is why the author thinks it will take that long for the effects of a worldwide liquidity drain to occur. Decades? I'd think closer to a tenth that long.

[Jim Verdolini]

"You are behind the times. The bubble has already burst. Prices in New Jersey have fallen between 12.5 to 28% since May 19th. Prices in about fifteen counties in N. California have fallen about 10% - 12%. Now watch closely as real estate prices fall all across the country."

I am closing on a sale next wednesday...all I need is for the world not to end before then...

[arthurus]

All that money that was being siphoned off into real estate will now join the competition for the rest of the goods and services in the economy. The long housing boom is part of why inflation has not driven up prices generally to nearly the extent that the continuing "devaluaton would indicate. Oil has mopped up some and the central banks of the world have soaked up much of the rest as they try to keep the value of their dollar reserves at a consistent value.