16 years since the bubble peak, the Case-Shiller National Index (SA), was reported as being 65% above the bubble peak in 2006.

If you're looking for proof that we're already in the midst of a meaningful deleveraging, look no further than car repos.

30Y mortgage rates soaring at the fastest pace on record to above 6%, sending average mortgage payment up by nearly 20% in 6 months.

One of the world’s most prominent Fed watchers, Mohamed El-Erian, says it’s part of a “great awakening” for central banks.

Until this toxic economic pattern shows signs of reversing, the unfortunate reality is that a decline in home values is inevitable.

This isn't 2008 all over again. But, it's darn close. Lower home prices are inevitable. Recent homebuyers will find themselves underwater.

A shockingly large price bubble appears to have formed in the real estate market.

BUT ON THE SURFACE, STOCKS STILL LOOK HUNKY-DORY.