Just look at income to housing price disparity: Average income $60k. Average Housing price $700k.
We saw those before. We knew the end game. History alway repeat or rhyme. Nothing new under the sun since the dawn of human history, because human greedy never changes.
http://www2.macleans.ca/2012/01/26/what-happens-when-canadas-housing-bubble-pops/
By then, as virtual (nominal value) economy tank, gold may become a bubble.
One has to respect John Exter for his discovery of inverse Pyramid. What a clever way to express the credit expansion and contraction. And look at which layer the real estate resides. Boy oh boy.
http://www.lesjones.com/www/images/posts/exter-inverse-pyramid.jpg
LOL
