Housing market: Part 3
How the modern housing market is like a Ponzi Scheme?
Dear Reader,
In Part 1 we established that there is a housing property bubble.
In Part 2 we calculated the size of this bubble.
Now, in Part 3, we will illustrated how the modern property market is similar to a Ponzi Scheme.
The US Securities and Exchange Commission defines a Ponzi Scheme as:
β... an investment fraud that involves the 1) payment of purportedβ¦