The Fed, Regulation, and the Housing Bubble

What were economists saying about housing bubbles and regulation of mortgage markets nearly three years ago? I just came across this post from Jim Hamilton from June 18, 2005: Another argument that's sometimes raised (for example, by Kash at Angry Bear) is that some of the buyers of homes at current prices aren't going to be able to repay their loans. One could ask the obvious question here, why would banks be making unsound loans, to which there is a subtle possible answer. It has long been