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the housing market will go through a correction, not a burst.
in hot usa coastal markets much of the price run-up is due to foreign money, and it is not tied so much to incomes of local wage earners---this insulates these areas from a true bursting bubble.
as you see a homogenization of a global economy based in large part on the internet WHERE you are will be less important than your ability to connect.
look for major property value increases in stable foreign locales that can provide good internet connectivity.
that is the next big profit area in real estate speculation; marketing these remote properties to westerners as retirement areas.
hint: tropical zones, thailand, philippines, south america, greece, belize, baja california
that's where the big ROI will be in the next 25-50 years in residential property.
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