What Janet Yellen Did and Didn't Get Wrong About the Housing Bubble by Matt O'Brien

...As Scott Sumner points out, housing starts halved between January 2006 and April 2008, but unemployment only went from 4.7 percent to ... 4.9 percent. 

He seems to agree with DeLong more than Baker. DeLong has pointed to this and I remember commenters saying there's a lag. Two years is a long lag and then the jump was sudden as there was a financial crisis.