Well Tulips never bubbled again in Europe, but who knows?
real estate has bubbled about a dozen times since the beginning of this country. It always does because people are always obsessed with land. Whenever the credit system expands more than it should, regardless of the reason (stock market, railroads, Nasdaq), real estate bubbles along with it.
While Shiller is very good at analyzing after the fact data and making references to it, his crystal ball has quite a few cracks in it. His predictions of the bottom and near future really suck.
You're not paying attention. Shiller doesn't make predictions and almost always says in interviews that he doesn't know the future. His statements are, more than not, connected with past data. He knows the past data doesn't predict the future, which is why he says words like "likely" or "probably." Those words suggest statistics.
I didn't say anything about magnitude of the rise jerk off. Maybe you can post the same chart another 5 years straight.
I think that was what was missing from your post (didn't mean to offend). Sure there have been bubbles, but none quite like the 2000s housing bubble. It's a once in a life time type of event (which was Shiller's point in case you missed it). I'm just disappointed it had to happen during my life time.
It just kills me that the country is so God damn in debt growing daily, Jan 1st is looming with potential economic disaster as a result, and? They fucking go for another round with this crew. By the time this crew is out this time around most Americans will be fortunate to be able to turn on lights in the dark.
More than ever now, they can take all real estate and its related fraud and shove it straight up their arse. They aren't taking me and my family down in debt with their real estate bullshite.