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: Instapundit.com

ROBERT SHILLER ON the housing crisis. ?American mortgage institutions encourage people to take a le?

By Glenn Reynolds

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ROBERT SHILLER ON the housing crisis. “American mortgage institutions encourage people to take a leveraged position in the real estate market, which is quite risky because home prices can and do decline, as we have learned so painfully. Leverage a risky investment 10 to 1 and you can expect trouble ? and we have plenty of it today.”


Full post as published by Instapundit.com on March 07, 2010 (boomark / email).

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