Managing director Clark S. Judge explained the trouble with the housing market.
Last week, I posted a summary to a New York Times op-ed by financial crisis expert Peter Wallison. Wallison had argued that a new housing bubble was developing. I included with my summary a chart that he circulated privately to back up his claim.
In a comment on my post, J Climacus wrote: “I’d like to see a debate between you and [American Enterprise Institute scholar and Ricochet contributor] Jim Pethokoukis, who seems convinced that the problem is that there hasn’t been enough easy money, not that there is too much.” To me Mr. Climacus’ comment pointed to some of the most urgent issues in the economy today and widely spread confusion about them. I felt the response deserved a full post.
Read the full piece here.