Lets step back a bit and take a look at the much bigger picture.
Vacancies in Beijing via Zerohedge.
So, broadly speaking: US: 2.5 million available homes; Beijing – one city in China – has 3.8 million??
That is all.
What is the impact here of the New Chinese Century failing on a scale this grand?
What would the impact be if you heard the chairman of the Federal Reserve say, “Housing may no longer be viewed as a secure investment”?
Well, it just happened.
I understand that things have been very economically weighted the past couple of weeks. However, I want to try and attempt to convey to you that paying attention to these macro, large scale, sometimes long timeline events and triggers is beneficial to your understanding of the battle space with which you will be forced to operate in.
Housing, for the past almost 100 years in this country, has been the single vehicle by which dotgov has flatly stated is the single best and biggest investment for every American. The dream of owning your own home has been on the forefront for the majority of post WWII people in this country.
The chairman of the Federal Reserve has just publicly contradicted that trend.
Think about it. The answer is simple. This test will be pass/fail.