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January 08, 2009



While I feel sorry for people who bought property at the peak, a lower market benefits everybody else. This was a bubble engineered by Greenspan (to cushion the impact of the dot-com bubble), it caused inflation, and I think we have to face the fact that it's over.

Well, almost over. What does Kamer say about the commercial real estate market? My sources suggest that's going to be the next bubble to burst.

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