'The US housing bubble will disappear' By Laurie Osborne, Editor Published 11th Sep 2006 That the US housing bubble will disappear someday is a certainty. That it will blow up catastrophically is a fair bet, warns The Daily Reckoning's Bill Bonner. Observing recent statistics, Bonner calls the evidence "formidable". The total value of residential property in developed countries rose by more than $30 trillion, to $70 trillion, over the past five years – eclipsing the combined GDPs of those nations. Consumer spending and residential construction have accounted for 90 percent of the total growth in the American GDP over the...
