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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (14857)11/6/2003 9:47:48 AM
From: Elroy JetsonRead Replies (1) of 306849
 
Indeed the housing bubble did begin in 1996, the same year that Greenspan started a coordinated expansion of the world's money supply to contain the Asia Crisis. He rapidly expanded the growth of our money supply - it has doubled since that date. That's a growth rate of 10.4% per year compounded.

Your alternate theory is that we suddenly developed a peculiar world-wide "land shortage" with resulting higher prices. This explains in part why people picture you as Mr. Haney, the crooked real estate agent from Green Acres.

It's interesting to note that previous "land shortages" have occurred precisely when there has been a rapid growth in the money supply: the boom of the 1880's (gold from Australia and California); the 1960's (money supply expansion to pay for the Vietnam war); The 1980's (money supply expansion to pay for increased oil prices).
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