[greesil]

It's like this guy has never heard of a speculative bubble, and sets up a series of straw men to nock down instead. Even though "bubble" is in the title.

Edit: oh I get it, his point is that yes there was a bubble, and that's why prices went up. Without extra supply it would have been worse. I think that's putting the horse before the cart, because without the bubble the extra supply wouldn't have been built.

This post is all over the place.

[dwighttk]

I think the horse goes before the cart.

[onlyrealcuzzo]

In lot of housing markets (most) - one cannot simply build more housing. The localities do everything they can to limit supply.

In fact - places like Ireland are shockingly rare exceptions where supply actually went up with demand.

That's why this article is interesting.

[simplestats]

Looks like the links in the second paragraph are examples or perhaps origins of the myths he is attacking.

The topic is apparently his phd thesis.