True or false:
U.S. Housing was overpaid and overleveraged, mostly, but not overbuilt (except in Florida?).
If true, then the "pop" of the bubble is not as severe, because it is easier to adjust, when there hasn't been a dramatic oversupply / inventory build ...
[update: Tishman, on CNBC 7:37 a.m., 10/28: there has not been spec buildout in commercial property as there was in 1991-1992 era. (I do pretty good for a guy with his eyes closed, eh? Now for the residential piece ...)]
Tuesday, October 28, 2008
Housing
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