Does the NYT Still Not Know About the Housing Bubble?

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The NYT told readers that "the collapsed housing market" was a major cause of the recession. That is sort of true, except that it was a bubble that burst. This is an important point, because it doesn't make sense to try to re-inflate a housing bubble, just like it would be foolish policy to try to push the NASDAQ back to 5000. Reporters should try to talk to someone who understands the housing market when it reports on housing policy.

--Dean Baker

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