No Housing Bubble HUH?

I wonder where is this author now? I also wonder how much money he made off of those who believed him, when he said, "there was no housing bubble." I wonder.

Kevin - If you look in today's online version of the WSJ you will also find an extensive article titled "What housing bubble?" You can read the article but the author's basic conclusion is pretty scary.

-Minyan JB

Thank you for the link MJB. The author's main thesis is: "There is no housing bubble." Among the evidence he uses to support this conclusion are the fact that he believes the strong housing market is a function of a variety of factors with "real" economic underpinnings: low interest rates, job growth, parental contributions, optimistic view of future earnings power. He goes on to cite three "myths" of housing: too much capacity, risky mortgage products fueling appreciation, and speculators driving prices higher.

All of this is basically a way of echoing the popular denial-based saying that, "What is, is." Blind acceptance. Sure, the economic underpinnings cited by the author may be "real" in the sense that they exist, but this ignores the reality of why those "real" economic underpinnings exist.

read more here http://www.minyanville.com/articles/index.php?a=8098