This is a very scientific sounding description that basically says "anything can happen". I mean our current economical system exists since WW2, so you can't ev

This is a very scientific sounding description that basically says "anything can happen". I mean our current economical system exists since WW2, so you can't even fit 2 40-50 years slices in there. And while the environment inside the US might seem similar, you can't really ignore how the "local" markets are globally interconnected. For instance one reason for housing prices rising in the last decade might very well be connected to the rise of Chinese economic power, leading to millions of Chinese coming to the US and buying property there.