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So when there is no middle class, we just going to have empty homes? Or just put 2+ families to a unit? Because from where I stand it is a few new money haves, and a lot of people going from middle class to have nots. This economy is in deep trouble and the real U6% is ~20%
So when there is no middle class, we just going to have empty homes? Or just put 2+ families to a unit?
People will double up or be homeless.
As long as the majority home owners favor the policy of inflating assets....
And Case-Shiller is correct. There is no bubble (yet), at least nationally:
http://www.multpl.com/case-shiller-home-price-index-inflation-adjusted/
http://www.cnbc.com/id/101152271
August Fastest Gains in 7 Years, Homes Still Affordable, No Bubble Mindset
"Home prices are not being driven by extravagant expectations, as they were in 2005 and 2006, but by historically low inventory and strong investor demand."
#bubbles