do you fully understand how nuts real estate got there? I was on a trip there in 2006 and a 50 square meter, basically 550 square ft condo in a very nice high rise I was visiting was 1.7M, that's absurd.
I don't know what the sustainable level of economic activity is, but without a huge bubble of some kind spinning off value, I think the world will look very different in a decade. The wretched excess of the American Dream will be as lost as Camelot.
I honestly think we will have to look at an operating unemployment rate of 8 to 10% as the norm going forward from now. some of these jobs are never coming back.
dubious I agree, I really feel we're gonna have another dotcom bubble, there is still so much left to be created online and every new device has internet access. I just have this feeling its coming back, problem is too few people would get rich its not an industry for all people.
Yeah, it's weird and painful that no one really explored the consequences of debt resolution when several different parties with their own interests own the mortgage on your house. It's not as simple as hashing it out with your local bank and shaking on a compromise anymore.
