It’s a BUBBLE, I Tell You, A GIANT BUBBLE!

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Let’s face it, real estate bubble arguments can get so tiresome. ‘It’s a bubble!’ ... ‘Is not!’ ... ‘Is too!’ ... ‘I know you are, but what am I?’

Next time you are stuck in this endless loop, here’s a game-changing thought: you say, ‘The WHOLE THING is a bubble, ALL of it! Every last asset on the planet is overvalued!!! Then you talk knowingly about this Street.com post that says it’s ALL a bubble -- stocks, bonds, real estate, NBA salaries, ALL of it: a giant global bubble.

A taste: ‘Legendary value investor Jeremy Grantham says we are now seeing the first worldwide bubble in history covering all asset classes.’ ‘From Indian antiquities to modern Chinese art,’ he wrote in a letter to clients this week following a six-week world tour, ‘from land in Panama to Mayfair; from forestry, infrastructure and the junkiest bonds to mundane blue chips; it’s bubble time!’ ‘Everyone, everywhere is reinforcing one another,’ he wrote. ‘Wherever you travel you will hear it confirmed that ‘they don’t make any more land,’ and that ‘with these growth rates and low interest rates, equity markets must keep rising,’ and ‘private equity will continue to drive the markets.’ ‘ Thoughts? Comments? Use the comment button without fear or favor.