[lbo-talk] housing deflation

Doug Henwood dhenwood at panix.com
Wed Mar 1 09:56:54 PST 2006


Jim Devine wrote:


>[alas, this useful article elides the macroeconomic impact of
>housing-price deflation, which might be the straw that breaks the back
>of the consumer borrowing-and-spending boom, encouraging recession.]

True, but it was nice to see someone in a mainstream pub question the virtues of housing inflation - which as the late Ed Hart of the late FNN used to say, is the American national religion.

Doug



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