Yes a lot of variables here this is just the current look at the moment. 

 80 trillion in money supply ..

800 trillion in legacy assets ..

Which means there is 10 x leverage in legacy assets .. give or take ..

I think we are heading towards a massive deleverage cycle in equities and real estate ..

It could be another year or two ...but writing is on the wall !  

 Deleveraging real estate... My gawd I hope so. 

 Remember how much US paid to buy entire California !  That is the real price of real estate .. of course some localities would always shine ..