Bubble in Real Estate Due in 2007

I'v just read interesting comment regarding Bubble in real estate launch time.

"We have had a global asset bubble in real estate, stocks and some commodities. That bubble will have begun to pop in earnest by the end of '06 and will engender global economic contraction and overcapacity resulting in falling wages and prices, falling interest rates, falling stock prices, and quite probably a falling dollar."

Kitco