by Calculated Risk on 3/28/2005 11:10:00 PM

Even the conservative think tank, American Enterprise Institute, is opining about the housing bubble. AEI Economist John Makin both excuses and blames Greenspan for the bubble.

"Like so many difficult issues, the housing bubble has emerged from an unusual combination of events. The Fed’s response to each is defensible. However, taken collectively, those responses have encouraged what is arguably a worldwide housing bubble."

Very interesting.