Looks like the first announcement of the housing bubble crisis : by Jörg Guido Hülsmann in “Deflation and Liberty” (first printed more than five years before republication in 2008 by the Mises Institute) :

The printing press of the Federal Reserve has fueled a housing boom just as it has fueled the 1990s boom of the stock market. The stock market boom has already ended in a resounding crash. The housing boom is next in line.

In my personal readings I have noted another preliminary announcement, by journalists from L’Expansion in october 2006 (French magazine, in an article on revolving credit, likely as a reflection of N. Roubini’s speech in Sept 2006). Yet in the 2007 French presidential campaign Nicolas Sarkozy, forerunner, was still proposing loosening credit rules for growth purposes…