Wed October 22 2014
Evidence of Another Even More Sweeping Housing Bust is Already Starting to Appear
By Elliott Wave International
This is an especially interesting article echoing my comments about the prices of collectible and newly manufactured Ferraris. Prices have shot up in parabolic fashion with each new century mark on the S & P.
Housing prices in London, home of sheiks and Russian oligarchs have also rocketed as well as NYC. This is all part of the skyscraper theory, a building boom precedes a bust.
And notice on the front page of the WSJ today, we have more evidence of the Federal Govt launching another sub prime mortgage effort. And this time it kicks off at the Mandalay in Vegas, ow ironic. Remember the President chiding those who vacationed in Vegas after the last bust?
Here we go again.
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