Okay, I've touched on the Economist discussing the housing bubble previously. Now, in the last 24 hours, we have both the Financial Times and Krugman weighing in on the subject, as well. (Jerome has the best round-up in his Kos diary, so I'll just link there...)
Using San Diego as a barometer for things, according to the LATimes it sounds like a deflation is already underway.
Fasten your seatbelt for the next recession people, it sounds like it's going to be a doozy!
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