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    the banks aren't just insolvent anymore..., 2009-04-30 14:58:55 | Main | and so noted..., 2009-05-01 00:15:25

    glass it and start over:

    There used to be an argument, back in 2005 when people besides Dean Baker started noticing a housing bubble, that real estate hyperinflation "deflates", rather than collapses, largely by stagnating and being devalued by inflation. Two nominal percent a month is probably far into collapse territory, but I think the assumptions of that discussion might need to be re-assessed if we're bulldozing it and starting over, like in this development in California:

    Yee haw.


:: posted by buermann @ 2009-04-30 20:19:03 CST | link





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