I predicted Chicago's condominium price crash in the late 1990's. I was proven correct nearly a decade later. In other words, I was wrong.
Precisely! I don't wish to needle Pelham any more, but plenty of folks come online today and describe in painstaking detail how the mess unfolded a year or more after the fact and hold themselves out as a junior Nostradamus or something.
If he had intel on the ground a few years ago and thought to himself, "Wow, this is unsustainable. I wonder how much higher it can go, and when it will fall," then kudos to him. He saw something many of us didn't.
But that doesn't mean it's prudent to follow the perpetual economic sourpusses whose opinion never changes moving forward. I personally would guess about a 10-15% return in the S&P 500 next year and GDP growth in the 4% range. (No thanks to you, Mr. President, it's simply U.S. resiliency.) Dollar likely continues a slow long term decline, but I don't think people who buy gold today when every other commercial on FNC is by a gold broker is going to be happy this time next year.