In the long run, over consumption and over dept will cause indigestion, and will definitely implosion in debt and higher savings
Not only property market will collapse, there will be collapes in other markets like shares markets, bond markets, and of course ultimately US dollar currency.
Well, in mid August this is what Robert Prechter, based on Elliot Wave reading said,
Stocks will collapse
US dollar will rise
Commodities will collapse
Property will collapse
US is not in recession, it is in depression, long drawn recessions with high unemployment.
MyView
Don't believe what I says, believe what he said. One of the most accurate market forecaster who takes into account not only the fundamentals, but also the non tangible psycology of the crowd and other social moods. He had been accurate and continue to be accurate since 2000.
Take this guy seriously.
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