Housing Bubble

http://economicsofcontempt.blogspot.com/2008/07/official-list-of-pundits...

Interesting list of people who said there was no housing bubble. Krugman points out that these are many of the same people who are now saying that we need to reduce the deficit or inflation and interest rates and the dollar will destroy us.

FWIW, I thought the big problem was going to be that the economy would tank when prices stopped rising. I thought so many people were using their houses as an ATM that the economy would be badly hurt when the housing ATM was shut down. I never expected prices to drop by 30%.