Tuesday, February 15, 2011

Kinsley Calls Me a Fine Person

That's Michael Kinsley in his Politico column suggesting we shouldn't want housing prices to rise.  He suggests the lower housing prices, the easier for people to buy.  Current homeowners who are looking to upgrade should also like lower prices.  Only those current homeowners who aren't looking to upgrade really benefit from high prices. 

I think he's right, at least about my being a fine person, and probably about housing prices. Certainly reading the narrative in All the Devils Are Here, which is a fine book BTW, suggests the housing bubble was a disaster for everyone.

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