patrick.net

It means an imminent long decline.

The market turned 3 years ago:

Not just houses, rents too:

Like the 70s, we're getting a demographic surge of young people.

aka millenials aka the boomer echo.

QE and our increasing Gini (more and more money bidding up prices and thus lowering yields), massive imports and trade surplus (which is deflationary as it takes our money away and gives us goods in return) and the general underemployment (suppressing wage increases) have kept inflation anchored.

On the whole we've almost recovered from the bust, and those that did are doing a lot better now. Most people got through unscathed in fact.

WillyWanker says

Then, as the market forces began to shift, it began to fall apart.

As with all internet forums, the density of Austrian blow-hards per cubic meter increased to critical mass: "I'm the only libertarian in the world - the first libertarian in my village! Surely you have never been exposed to wonderful libertarian views such as mine!"

How about adding a Real Estate tab to Patrick.net?

WillyWanker says

It appears to have fallen apart completely.

What a pity. Years ago, it was such a pleasure to pop in here to read all the stories of the real estate collapse. Then, as the market forces began to shift, it began to fall apart.

There's always something falling apart in this world. Today it's Russia, Greece, and of course the old time perennial - Middle East.