In Case You Didn’t Get The Memo, The US Is In a Real Estate Depression

That Is About To Get Much Worse Yes, we are in a balance sheet based, real asset depression. If you take a look at it from an empirical perspective there should be no surprise in this statement, but since most derive their information from the mainstream media media and the sell side of Wall Street (both of whom have a preternatural proclivity for the positive spin) this may come as a bit of a shock to a few. Let’s ponder the term “depression” as outlined in Wikipedia with some Reggie edits: In economics, a depression is a sustained, long-term downturn...