I do not disagree. The real test will be over the next 2-3 years if we see a lot of commercial real-estate go up for sale. But the real trick is will they fin

I do not disagree. The real test will be over the next 2-3 years if we see a lot of commercial real-estate go up for sale. But the real trick is will they find another sucker to buy it. Also as you point out later on participation rate is going to be interesting within 10-15 years. It does look grim at the moment but that will change companies will have to pay more which will raise participation rate (not as much as I hope but it will raise it). I remember it was during the oil boom a couple of years ago that mc'ds was having trouble hiring people and were paying 20+ an hour just to compete against the oil riggers and that was when min wage was like 7 bucks. Remember scarcity usually raise prices in a market. I also posit that this is about to be this generations '1970s 1930s' moment. The boomers are hanging in there because they DO remember those moments. But age gets everyone in the end. It is interesting to see people mad about 5-6% interest rates. My parents had to pay 13%+ interest for a house at one point in the late 70s early 80s. I have the paper receipts to prove it.