In 2007 I warned several investment friends who manage rich peoples money about the coming housing crash. They all agreed that we would see a 10% correction, not more, as housing in Sonoma county was such a great deal. I predicted 30%, and they thought I was crazy.
It fell 50% across the board. I predict we only lose 20% next time, so real prices after inflation will be much lower, but the dollar price will not fall as far as it was last year at the bottom.
Stagflation coming, after a nasty recession. The $ will be the only asset that does well.
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