Stacy Summary: Oh boy. This paper from The Federal Reserve Bank of Richmond is doing the rounds all over the blogosphere this morning. Would love to have your thoughts on their argument. I know we had one ‘there is no housing bubble in Canada’ commenter who is no longer on the site, but he would agree as he believed you must have an economics degree to qualify to comment on the economy around you. But your thoughts? And how long before heretics start being burned at the stake?
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