housing bubble

Simone Baribeau

Federal Reserve governor Elizabeth A. Duke today spoke to the Mortgage Foreclosure Policy Conference about the conditions that led to the housing crisis and her vision of the future of housing finance.

“A speculative mentality took hold among investors and consumers who expected limitless house price appreciation,” she said. Read more

Chris Giles

In a characteristically combative speech today, Adam Posen, an external member of the Bank of England’s Monetary Policy Committee, insists interest rates are a blunt tool for combating asset price bubbles. He suggests property taxes instead, writes Chris Giles of the Financial Times, but fails to analyse whether these would work any better than interest rates Read more