Wednesday, December 03, 2008

Lereah & Others Missing The Housing Bubble

From a blog at The Atlantic:
Unless I were allowed to rely exclusively on David Lereah (until recently the permabullish economist for the National Association of Realtors) I would be hard put to find one economic expert who had completely missed the housing bubble, much less write an entire article consulting no one else.
David Lereah definitely missed and dismissed the housing bubble. If one goes back to 2004, 2005 or even 2006 there were plenty of economic experts who had completely missed the housing bubble including economists at Harvard the Federal Reserve and at other prominent institutions.

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