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.