Goldman Sachs forecasting oil to hit $105 - well they may or may not be
right, but those sorts of forecasts always come out at some sort of
medium or longer term high, so see what happens for oil over coming
months - just an emotional thing, this is not tied into how the chart
same with every man and his dog calling a property peak this year - even
the World Bank saying it - and when they say something it is almost
certain to be wrong. The 1000 economists on that payroll have never
been right yet. Me, I'm sticking to the 18 year thing. The most
accurate indicator to date has been the tallest building syndrome: they
have always opened at or just after the peak in the real estate cycle.
Current crop of world's tallest are scheduled for 2009 completion.
Besides, all the oil sheiks and Russian mobsters have to put their easy
earned rental wealth somewhere, and it will diversify further into
property. This will keep real estate prices humming along allowing the
more savvy from the early 1990's buyers to quietly sell down or cash up.