29 August 2009

File Under "Stating the Obvious"

So says Barry Ritholtz in response to this gem from the New York Times:
It is clear in retrospect that in parts of the Sun Belt, the economic dependence on construction reached unhealthy levels in recent years.
And I agree wholeheartedly.

It wasn't just the driver for economic expansion in places like Arizona and Florida, it was the economy.

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