That’s the prediction here and the author has charts to illustrate his argument. Makes sense to me. We have politicized the mortgage market, using government money to take the place of private investors’ money as the privates fled. And, just as government guarantees enabled the private lenders to make foolish, ill-advised loans, government employees spending other people’s money are no more cautious. The idea is reinflate the bubble now and hope you’re out of office when it bursts again. What a country.