Like a stock-market or housing bubble, I can't predict when the oil-price surge will end.
> On the front page of the New York Times today, however, "Rents Head
> Up as Home Prices Put Off Buyers" ...
one of the signs that we have had a housing-ownership bubble ("unnaturally" high house-ownership prices) was the growing gap between the trend in ownership prices and that of apartment rental rates. The closing of this gap partly involves housing prices falling, partly rental rates rising.
...
> By the time the wealth effect of the property bubble and jobs that it
> has created will have gone up in smoke, the bankruptcy reform will
> have also taken effect.
right. We are going to see interesting times ahead. -- Jim Devine "May you live in interesting times." -- allegedly an ancient Chinese curse.