It was the best of times. It was the worst of times.
I'm referring to U.S. real estate in 2020, not to the French Revolution.
In one way the housing market is on the verge of a collapse that would easily rival, if not exceed, the 2008 collapse.
The real estate industry celebrated another big year for home price appreciation - up 6.3% y-o-y.
Prices have almost returned to peak housing bubble levels, and the industry forecasts nothing but smooth sailing as far as the eye can see.
The real estate bubble was so 2007.
It burst and a lot of people lost their homes, the banks went bust, and the financial system nearly collapsed, but home prices came down, right?
What if I was to tell you that the real estate bubble has not only been re-inflated, but is now bigger than ever before?
You might find it hard to believe because practically no one in the media is talking about it. Yet the information is out there and readily available.
