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December 5, 2007

knzn's Unpopular Conclusions II

knzn continues, but not quite from where he left off:

Did this in Housing seem an obvious bubble?, by knzn: I don’t think I’m going to be continuing yesterday’s post from just where I left off, but hopefully over the course of the next few posts it should become clear why I hold such bizarre beliefs. In this post I’m updating one from last year, in which I argued two points:

  1. It is still reasonable to believe that the housing boom was not a bubble; and
  2. Even if one believes that, one can still be ultra-bearish on housing today.

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