Yes, but he also said in 2004 and 2005 that this was a housing bubble.
In 2005, you didn't think there was a housing bubble?
The evidence in support of a housing bubble is compelling.
That would have also helped to slow down the housing bubble.
For years, people in Israel have been talking about a housing bubble.
Most small business growth during the past decade followed the housing bubble.
"There has never been a national housing bubble," he said.
But this may not be a bad thing, given all the trouble the housing bubble caused.
And the housing bubble will eventually burst whatever we do.
Now the question is what can replace the housing bubble.
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