Nathan

Running Out of Bubbles - New York Times: "Some analysts still insist that housing prices aren't out of line. But someone will always come up with reasons why seemingly absurd asset prices make sense. Remember 'Dow 36,000'? Robert Shiller, who argued against such rationalizations and correctly called the stock bubble in his book 'Irrational Exuberance,' has added an ominous analysis of the housing market to the new edition, and says the housing bubble 'may be the biggest bubble in U.S. history'"