It looks like we're coming off another credit wave. Late Fall might indeed be the next transition; but if the trend continues, the peak won't be until January or February. Note: The charts tab has an even better image although there is no 5 year chart per se. Do look at the longer term chart to see how the floor has moved to at/above the previous peaks!
I find it interesting how the other indicators are correlating with the real estate emotions. Credit availability (or lack thereof) is a major component of my predictions. Even Dubai (WSJ, subscription) is having cash flow troubles! Note: Due to their massive infrastructure programs absorbing the wealth inflow the local banks are short on cash as they also try to fight massive inflation.
Got Popcorn?
Neil
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