The Real Deal Miami

Little preventing a new housing bubble: experts

April 18, 2012 11:15AM

Experts disagree over the chances of a new housing boom and bust, although little can be done to stop it, according to Ardavan Mobasheri, chief economist of AIG, the Palm Beach Post reported. “So long as individuals have the liberty and freedom to be greedy, the speculative bubbles will be inevitable, and we’ll have to deal with the outcome of the bursting of that bubble. There is no measure we can take to prevent investors who want in a short period of time to become rich.” Mobasheri was speaking at the International Economic of the Americas in Palm Beach this week. Lawrence Yun, the chief economist at the National Association of Realtors, sounded a different tune, saying new regulations would help prevent a wave of bad mortgages. [Palm Beach Post]