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Originally Posted by MikeWaters
no, you will witness migrations of people to areas with cheaper housing.
I'm not sure, but I believe house ownership now is the highest it has ever been.
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A couple of points...
Sure, home ownership might be high right now, but what does that mean if the ratio of mortgage debt : personal income and the percent of risky loan packages is also extremely high?
"Ownership" has a fairly specialized meaning when you are paying interest only on a loan that actually GROWS over time.
And as for urban sprawl, that seems to be a different house of cards. Sprawl can only stretch as far as there are real jobs. It ultimately has to tap into some kind of real industry (ie. not service jobs like medicine and lawyering) to bring fresh money into the local economy.