It Was a Housing Boom, not a Construction Boom
March 31, 2010 at 10:44 AM EDT
Below are BEA’s indices of real investment in structures, for three types: owner-occupied housing, tenant-occupied housing, and non-residential structures (the BEA has the first two indices only on an annual basis, and so far only through 2008). I have recently softened my view that the Federal Reserve gets little blame/credit for the housing boom. But shouldn’t [...]