Tuesday, May 31, 2005

Buy, buy

Is Your House Overvalued? - New York Times
On other hand, some economists say even Washington is in the midst of a run-up that is likely to end badly. Dean Baker, who predicted the stock market's fall and now says the housing market is headed for its own troubles, sold his Washington condominium, not far from Mr. Barson's loft apartment, last year for $445,000, after having bought it for $160,000 in 1997. Now Mr. Baker rents a similar-size apartment nearby.

"I felt stupid not doing it," said Mr. Baker, co-director of the Center for Economic and Policy Research, a liberal group. "To me, there's no doubt about the direction. The only question is timing."