CR on Housing in 2005

Note: CR is on vacation, and I will return on Sunday, August 23rd. Back in 2005 and 2006, at least every other post was about the housing bubble and the possible impact on the economy. Here are a few examples: From April 2005: Housing: Speculation is the Key I have taken to calling the housing market a "bubble". But how do I define a bubble? A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset's fundamental value, but the real key for detecting a bubble is speculation - the topic of this post. Speculation tends to chase appreciating......(read more)

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