A Picture Is Worth (-)Trillons

Thanks to ML for this photo that shows graphically what is obvious to anyone paying attention - we have had a "slight" bubble in the real estate markets over the last coupla years.



The font is too small to read so let me translate: greatest bubble in the past - scaled to 125%. Today - scaled to 200%.

Let's just say I am not being paranoid (for once) when I say this will take a little while to come back to reality.