Wednesday, October 01, 2008

Add two 

I note with great appreciation the comments about this blog from Politics in Minnesota in listing their favorite economics and real estate blogs. Let me add two to their list, both Twin Cities-based bloggers writing on real estate and economics and are part of my regular reading. Schadenfreude Now has at least two writers who I know and who comment on this blog regularly (using the pseudonyms bleak and silvercharm). They are well-read and provide analysis of economics and other social phenomena from a decidedly more libertarian view than I do. Their blog is about six months old.

Captain Capitalism has been at this much longer, and like at least one of the Schadenfreude bloggers has worked with real estate and lending. Indeed, he now has his own book on the collapse of the local real estate market, which I was privileged to read in advance of its general release. It is full of excellent stories that tell how loans were inflated. (Indeed, Arnold Kling in his podcast with Russ Roberts this week notes that no money down loans -- even loans on fraudulent values -- are not found out if real estate values are rising, which is why for many years nobody could understand why those fools in the old days insisted on 20% down for a house.) Aaron is far more critical of the bailout plan than me, and as a guy with insider knowledge is a viewpoint you should read.

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