Calculated Risk, in a discussion of home price declines, links to my three-year-old analysis, That Hissing Sound, which I think was one of the best pure-economic pieces I’ve done in my tenure at the Times. [in which Krugman accurately predicts the Mortgage bubble and crash]
Of course, everything is political — so if you google the article, high on the list you find this delightful screed from [conservative 'think tank' qua blog] Powerline, which says that I was just looking for something to complain about amidst the Bush Boom, and concludes:
[T]here is little reason to fear a catastrophic collapse in home prices.
Krugman will have to come up with something much better, I think, to cause many others to share his pessimism.
Memories, memories.
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