Now, both main stream publications and media are raving about achieving Dow $15,000. At the same time, real estate market price here in California is also increasing. Many are thinking recession is finally over. Just like 2006, many (Including my circle of people) starts to buy the house and most of them are saying that price is increasing and we will never have a chance to buy if we miss this opportunity. However... Is this really the case?
To me, this is just another repeat of great tragedy in the past... In fact, chart below is telling us whole picture of what is really going on. Sadly, many have already forgotten that past crisis cost them fortune (Stock crash and housing crash). Still, those people again mistakenly believed that true economic recovery are now here.
I said this last blog as well as past blogs but I will repeat.
This bubble will again burst just like any other bubbles in the past and millions will again lose fortune.