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July 21, 2003

Economics Update

Dean Baker is my favorite economist. A lot of folks seem to enjoy Paul Krugman, but I don't get the Times so I have to go with my main man Dean. Everyone should subscribe to his Economic Reporting Review weekly email newsletter, it is so interesting and informative.

Anyway, if you were thinking about buying a new house due to the tasty interest rates, read this article from August of last year. The long and short of it is that housing prices are about to plummet, with economic consequences similar to or greater than the crash of the recent stock market bubble.

If anyone has data like this available which is specific to the New York City area, please share, as I would find it quite entertaining.