Could the, until recently, ever-skyrocketing housing market in New York City have blinded Wall Street to the turmoil already afflicting the rest of the nation?
Barbara Denham, chief economic for real estate brokerage Eastern Consolidated, explores that angle in the essay below. It's no excuse, of course, but it might help explain how so many ostensibly intelligent people resisted the evidence accumulating in the rest of the country that real estate assets were drastically over-valued. read more »
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