thanks for that post... i wonder though if it can compare any other real-estate booms besides japan... with equities and commodities we have many examples, gold, sugar, yahoo, etc... but real estate it seems like the only bubble comparison is japan... any more ?
gold has possibilities, but it's hard to get good commentaries, because gold bugs are so fanatical, the worst kind of perma bulls. I still think short selling of those things that get hurt is the way to go, as well as things that have been held afloat by cash out re-fi spending a tripple whammy of ARM, credit card minimum payment doubling, and $3+ gas will really hit these types and then, there's the simple basics of the boom itself, mortgage ins, realtors, builders etc I'm thinking big realtors & mortgage insurance cos might be the canary in the coal mine. at first, there will just be a standoff, and realtors & mortgage originators will be the hardest hit by that. that could freak out the mortgage ins cos after that