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News Link • Housing

"Reverse-Wealth-Effect" Looms As Global Housing Bubble Pops

•, by John Rubino

Prices were blowing past records set during the previous decade's housing bubble as desperate buyers bought whatever was available at above the asking price while homeowners, confident that prices would keep rising, held out for the next big pop to sell. Notice on the following chart how the ascent steepens at the beginning of this year.

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