What I find interesting about this article and Keen himself is that he has declared his 'emotional' hand. Not only does he think that housing prices will drop but he he 'thinks' that housing prices are too high!
Hardly a neutral position. If for example the Prof saw nothing wrong with high prices yet he belived the market was in a bubble then fair enuf. If he did not have a view either way (house prices are eithe too high or low) - fair enuf. But because he has an open view and then spends hours trying to pove it - well thats not a very academic approach is it! Wonder if he had 5 houses and 2 million in debt - if he would be so vocal!
http://www.theage.com.au/business/walking-warning-on-crazy-house-prices-20100216-o4h5.html
Hardly a neutral position. If for example the Prof saw nothing wrong with high prices yet he belived the market was in a bubble then fair enuf. If he did not have a view either way (house prices are eithe too high or low) - fair enuf. But because he has an open view and then spends hours trying to pove it - well thats not a very academic approach is it! Wonder if he had 5 houses and 2 million in debt - if he would be so vocal!
http://www.theage.com.au/business/walking-warning-on-crazy-house-prices-20100216-o4h5.html