Seven Years Since Housing Starts Peaked

Carrying over some of the thoughts from the January investment letter about the economic cycle starting to get up in age, it's hard to believe that it's now been seven full years since the housing market started to show signs of peaking.  For comparison it was six years between the peak of the NASDAQ and the housing peak.  Some other seven-ish year cycles: intra-depression 1930-1937, and the 1970s economic cycle went peak to peak 1973-1980.