As we've been tracking here at PeakProsperity.com, the housing market is starting to look quite ill.

After the central bank-driven Grand Reflation following the Great Financial Crisis, home prices are now beginning to nose over from their new bubble-highs.

Has the Housing Bust 2.0 begun? If so, how bad could things get? And what steps should those looking to pick up values at much lower prices in the future be taking?

This week we talk with citizen journalist Ben Jones, property manager and publisher of TheHousingBubbleBlog -- where he tracks the latest headlines and developments in the housing market.

And given the stream of data Ben sees every day, he's extremely pessimistic on home prices in most major markets worldwide:

We're going to see a collapse. The housing bubble is in the process of popping right now.

Everybody’s been behaving like speculators. Housing prices have been just like day trading stocks. What’s happening right now is a lot more suggestive of a bubble bursting much more than it does just a correction or a down cycle.

I can’t think of a market in the United States I would buy in right now.

There’s plenty of people like me who have a memory of how this is going to play out (from the 2007 housing bubble burst), and they’re actually probably all lining up the same way.

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