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August 07, 2005

Chris Lydon's Radio Open Source

Chris Lydon's Radio Open Source had a show on the housing bubble: http://www.radioopensource.org/2005/07/27/the-beginning-of-the-end-of-the-bubble/. Here's one thing I said:

People have started viewing their houses as gigantic ATMs. Take out a home equity loan, which the banks are eager to offer you, %u2026and all of a sudden you have an extra $70k to play with. You can put on an addition, you can go through the roof, you can take several trips to Hawaii, and still have large amounts of money left over.

I shamelessly stole this line from Doug Henwood of Left Business Observer: http://www.leftbusinessobserver.com/--another man who really ought to have a weblog.

Posted by DeLong at August 7, 2005 07:21 PM