$BTC This century-long housing price chart almost lays out the entire market script for the coming years.

The $200 billion in policy funds has forcibly pushed U.S. home prices to record highs. The subprime mortgage bubble of 2006? Compared to the current scale, it’s just a small fry. Today’s housing prices are entirely supported by massive amounts of capital; once liquidity tightens, the decline will be even more severe than the 2008 financial crisis.

History always presents different faces, but moves to the same rhythm. The bubble burst that year triggered a global financial storm. If this real estate bubble bursts now, the impact will grow exponentially.

The most heartbreaking part is that this crisis won’t stay confined to the U.S. housing market. It will directly drain liquidity from the global economy. At that point, high-volatility assets like stocks and cryptocurrencies will be the first to bear the brunt. Institutions have long sensed the risk and are quietly positioning themselves at low levels, while retail investors still chasing gains at high prices may get caught in a tough spot.

Understanding the logic behind this chart helps explain why risks are accumulating.