[lbo-talk] origins of the housing boom

Indian Jones lburgindianjones at gmail.com
Tue Aug 30 11:11:41 PDT 2011

SA wrote:
> On 8/30/2011 12:27 PM, Ted Winslow wrote:
>> If "everybody" had known of these risks, bets (CDSs) would not have
>> been readily available that treated them as negligible.
> (b) the consensus was that the risk of outright negative house price
> appreciation on a national basis was negligible

Bingo! THE illusive risk depended on perception of risk. Which was managed. Risk is an exploited reification.

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