Yes and no. With regard to spreading, just prior observation that adjustments tend to spread. With regard to housing, the observation that the median home price : median income ratio is now above 5.2x, while at the last peak it was only at ~5x. The rate of growth is lower this time, but I don't think it matters because the ratio is still really bad.
During the last bust home prices went up not down. Because investment rotated from stocks to housing. Why won't that happen again, especially with ZIRP?
http://politicalcalculations.blogspot.com/2015/04/the-curren...