Friday, April 15, 2005

Bubble in Virginia

"Economist Dean Baker was so worried about a housing bubble that he sold his Washington, D.C., condominium-- at three times the price he paid for it-- and rented an apartment instead. Now, about two years later, he's still waiting for the bubble to pop.

The danger of a bust is "absolutely getting worse," says Baker, co-director of the Center for Economic and Policy Research in Washington."

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