The New York Times asks six economists, “Are we in a recession?” Of course, they don’t agree: one says, “the American economy is slipping into its second post-bubble recession in seven years.” Another says, “as to the factual question of whether we are in a recession given the data in hand, the unambiguous answer is no.” A third says, “Nobody knows.”
If we are entering a recession, most agree that the housing crisis is the cause. And the evidence is overwhelming that the housing crisis was caused by urban planning.
