Commodity, Currency, Gold, and Equity Market Analysis by Dr. Christian Normann        Please note: the optimal screen resolution for this page is 1600 x 1200 (UXGA Info) or 1920 x 1080 (1080p Info).  If your screen resolution cannot be adjusted to at least 1600 pixels wide through your operating system display settings, you may need to scroll a bit to the right in order to see the most recent chart action.  We apologize for any inconvenience, but believe it is outweighed by the ability to clearly see - in a single chart - several years of market history and important long-term support/resistance levels (that can significantly affect traders in all time-frames). Real Estate Comment Based on Closing Prices, Friday January 2nd 2009    Nationwide house prices are in free fall, and are about halfway back to normal levels.  In places like California, Arizona, Nevada, and Florida prices are well over halfway back to normal.  The updated chart below shows a possible future for nationwide house prices; it likely represents something like the best-case scenario as prices may well overshoot on the downside like they did on the upside.  Looking at the chart below of inflation adjusted house prices, it is clear that the period from around 1997 to 2006 represented a level of housing mania not seen in at least the past 116 years.  Based on other data, it is quite clear this has been by far the largest housing bubble in world history (and the first time there has ever been a truly coordinated global bubble in housing).

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