Since the first wave of cliff-related selling reached its peak in mid-November, the technical evidence indicated that the market was just correcting and not forming a major top.

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Dent's confidence, as always, is based upon a simple demographic fact: The baby boomers born between 1946 and 1961 are hitting their peak spending years in a rolling wave ending around 2010.

FORBES: Magazine Article

Manhattan was spared that foreclosure wave, and prices are much closer to the peak, down about 10% as of the second quarter, according to figures compiled by Gregory J.

WSJ: Manhattan Sales Continue to Climb

Thanks to this investment from Earlybird, Peak is well positioned to lead this second wave of social gaming growth.

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The strong sales in the Manhattan market occurred as housing markets around the country also have shown signs of recovery, after a long wave of foreclosures, with prices still nearly 30% below their peak nationally.

WSJ: Manhattan Sales Continue to Climb

We used a simple 46-year lag for the peak in spending of the average household, what we call The Spending Wave (which we covered in a past blog).

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