Your article is more than a year old?!! That's one slow wave you're waiting for. You and the other doomers are going to get pretty lonely waiting for that wave to finally hit the shore. This should be a cautionary tale alright. Why is it gold bugs choose to purvey doom even when the story is 18 months old and never happened?
The story was from The Economist. They've been on the real estate bubble for the last three years. They are usually reliable, but they got the timing wrong on this one.
It's happening right before your very eyes, and will continue to happen until the real estate bubble either fizzles or pops.
The story is just as valid today as the day it was written.
If only they would wait in silence. These Cassandras LOVE "bad" news.....no matter how out of date it is.