Falling Real Estate Prices May Cause the Next Financial Crisis! It’s Already Happening!

The global economy is diverse. Mining commodities, financial services, manufacturing, construction, and even building empty cities and bridges to nowhere. But most modern countries today are becoming more and more concentrated in what they do. Globalization has diminished the diversity, resulting in more frequent crashes that are all in sync with each other. Today, the U.S. and Canadian economies, among others, are so heavily reliant on real estate to consistently expand into eternity. Nothing bad could come of this, right?

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