Is the housing market at the peak? Will the house bubble burst next year?
First of all, the equity market has never been obvious. If the house market were so easy to predict, every one would be millionaire. In 2001, a friend of mine sold his house and moved to a condo. At that time, the stock market was very bad. Every place (such as Lucent, AT&T) was firing employee massively. Every body predicted that the house price would go down dramatically. What my friend hoped was to buy back house at a much lower price. Of course, you know what has happened. Until today, he is still waiting to buy a house with a lower price. The main reason that many people think house market is in a bubble is because of Alan Greenspans remark about housing market. Recently, he keeps saying that house is in a bubble, as though the market will clash tomorrow, and will clash all the way to 0. Let us put it this way. It is Greenspan duty and responsibility to maintain the health of US economy. If the house market clashes tomorrow, the US economy will go into deep recession immediately,
