The Real Estate Mini-Bubble Will Be Economy's Next Problem

The housing and automobile industries are the main driving forces of the economy – in both directions. That makes sense since consumer spending accounts for 70% of the economy, and homes and cars are the biggest ticket items consumers spend money on. More importantly, unlike most purchases, it’s not just spending the money they made last week, but through loans and mortgages it’s spending in advance money they will earn for the next five to thirty years.

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