By anecdote and price, North American residential real estate has again become highly speculative... the play has become very frothy. As global credit markets reverse to adversity after mid-year, the mania will begin to fail.
THE CONSEQUENCE OF REAL ESTATE BUBBLES
Bears, bulls, and the merely complacent are all commenting on the condition of the housing market.
The following articles cover real estate booms and busts back to Roman times. Including the latter is not too farfetched. Secular contractions inspired the New Deal in Old Rome, which suggests that policymakers respond to the same stimuli in the same way – no matter what millennium or condition they find themselves in.
Some of the articles are lengthy, but it is important to place the latest mania in housing in perspective.
Read Bob Hoye's Real Estate Study Here