Are We Overbuilding? Is Large Gobbling Up Small?

A the time this volume was put together, the word “is” was certainly good and appropriate. By December 13, 1979, two months after Paul Volcker and the Fed changed their whole attack on inflation and in the process substantially dried up the long-term mortgage market, the question might better have been asked, “Will large gobble up small?” As for “is”—currently “is” is not. As Dan Rose says, “Money is the one building material for which there is no known substitute.”