@yvessmith Houses are still down 30% or more where I live from the peak. Also, housing affordability is the highest in 40 years thanks to low rates.

@yvessmith Housing in 2005-2006 was the same as the nifty-50 trading at PE's of 50. Real estate earned 2% back then, now it is 4%-6%. Not a bubble.

@yvessmith Housing was levered 9:1 at the last bubble with 10% down. And It made it to 0% down & 110% mortgages to hit peak at 10 times avg income.

@yvessmith I'm sure he sees bubbles everywhere. Here he is in 2013 proclaiming the end of the "bond bubble."

@yvessmith they are Fed caused. 1% rate for all home loans would eliminate bubbles

@yvessmith Price itself has no meaning... only a number

@yvessmith this chart in particular has nothing that decisively indicates a housing bubble. Show same chart from 1980

@PabloBoza @yvessmith Care to support your assertion?

@PabloBoza @yvessmith You seem to be missing the reason why; and its not QE, nor is it over long term.

@PabloBoza @yvessmith No it's what happend to QE, European banks have taken it and moved it to US branches for secured returns. US banks keep it as well.

@PabloBoza @yvessmith The surge will come when banks realize they can't bring it back due to local conditions and are forced to invest in quality.. IE Blue chips

@PabloBoza @yvessmith And the fed is stuck bc raising rates to slow the local economy will cripple EMs that have taken out loans in USD. Which wld u choose?

@yvessmith Graphic model of how the current ¨money¨ system leads to terminal collapse