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“I don’t think it’s ever going to end. It’s going to drive this market forever…”
The No. 1 residential real estate agent in America is talking about Silicon Valley. Prices there have doubled over the last two years.
They’re now twice as high as the peak of the last housing bubble in 2006. The median price for a three-bedroom, two-bathroom single-family home now sits at $1.5 million. And that price is climbing fast.
If you want to understand the nature of the word “unsustainable,” watch the video below. It’s a documentary called Million Dollar Shack: Trapped in Silicon Valley’s Housing Bubble.
Regular Daily readers know unlimited central-bank money printing is the ultimate “wealth stealer.” It’s driven enormous asset bubbles and rampant malinvestment around the globe.
Million Dollar Shack chronicles how regular families get ground up in bankers’ efforts to “help” them, through loose monetary policy.
And the worst part is the victims still can’t see the perpetrators. Everyone from Google and Apple… to greedy property speculators… to the Chinese get blamed for the bankers’ misdeeds…