Wed Sep 27th, 2006 at 08:11:48 AM EST
Bonddad over on dKos thinks so:
I almost always avoid making hard economic predictions; it's almost impossible to be right. However, below are three charts that indicate there is practically no way in hell housing can have anything but a hard and ugly landing. So, I am officially going on the record as saying housing will die painfully within the next 18 months.
Could be exciting if he's right. The graph - based on a paper by Alan Greenspan no less - at the end of the story is fascinating: it shows the current growth in the US as being driven almost entirely by people borrowing against their homes.