Good Article About US Housing Bubble
Extract:
"I'm ending my discussion of this issue in 2004, but throughout the
years since, a number of analysts have emerged on both sides of the
housing bubble question. So I do not claim to be comprehensive in my
review. I just wanted to call attention to a few of the more prominent
analyses that crossed my desk when the housing bubble first caught my
attention.
There were many economists who did see it coming, but there were many others of equal or greater prominence and authority who repeatedly insisted that there was nothing to worry about. Under the circumstances, ordinary investors can hardly be faulted for taking actions that unwittingly fueled the bubble and are now having disastrous consequences for themselves and the nation."