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September 10, 2005

Today's Housing Bubble Post

-- by Thomas Leavitt

"As I like to say, these days Americans make a living by selling each other houses, paid for with money borrowed from China." -- Paul Krugman (NY Times, login may be required)

Posted by Thomas Leavitt at September 10, 2005 2:30 PM

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Here is a link to the article in question at the Unofficial Paul Krugman Archive where you can get the article for free.

Posted by: s9 [TypeKey Profile Page] at September 10, 2005 3:01 PM

The average cost of a Manhattan apartment condo has suddenly jumped to around 1 million. If you've ever seen the average Manhattan condo you know you wouldn't want to use it as a chicken coop. People are feeling forced to move into the city if they can by the rising gas prices. Bye-bye to the housing bubble bursting right here for now, anyway.

Posted by: MJ [TypeKey Profile Page] at September 10, 2005 5:18 PM

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