[lbo-talk] origins of the housing boom

[SA]

On 8/29/2011 10:20 PM, Michael Pollak wrote:


> IMHO, that's what makes this housing bubble different from other 
> housing bubbles.  It's not simply that there was ready money, but that 
> at the bottom of it, in both the US and Europe, there was free money

"Money always seems free in manias."

     -- Charles Kindleberger, _Manias, Panics and Crashes_, p. 10.

SA