Outside the Box

The Biggest Slump in US Housing in the Last 40 Years

John Mauldin

August 28, 2006

Last week in my letter "Thoughts from the Frontline," I promised a more in-depth view into the housing market provided by the well respected Professor Nouriel Roubini. I also commented on how complexity theory plays into the markets with a culmination of individual events each contributing to a larger "finger of instability" that poses a recessionary threat. One such contributing variable is the U.S. housing market. This week's "Outside the Box" contains an excerpt from Mr. Roubini's blog. (This entry as well as his latest posts can be found at http://www.rgemonitor.com/blog/roubini)

Nouriel is a Professor of Economics at the Stern School of Business at New York University (see http://pages.stern.nyu.edu/~nroubini/ for his Stern homepage). His applied academic research includes seminal work in international macroeconomics, global macro policies, financial crises in emerging markets and their resolution, and the reform of the international financial architecture.

Mr. Roubini continues to take a non-consensus view on the markets which is why I believe that you will find his opinions to be truly "Outside the Box."

John Mauldin, Editor
Outside the Box

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"The Biggest Slump in US Housing in the Last 40 Years"...or 53 Years?

By Nouriel Roubini, Aug 23, 2006

The Biggest Slump in US Housing in the Last 40 Years: These are not my views but those of the Toll Brothers, the famous luxury McMansions homebuilders, as CNN reported last week. Also, as reported by the WSJ today: In his 40 years…

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