
The Housing Boom and Bust
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Narrated by:
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Robertson Dean
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By:
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Thomas Sowell
About this listen
This book is designed to unravel the tangled threads of that story. It also attempts to determine whether what is being done to deal with the problem is more likely to make things better or worse.
©2009 Thomas Sowell (P)2009 Blackstone Audio, Inc.Critic reviews
"Among economists of the past thirty years, [Sowell] stands very proud indeed." ( Wall Street Journal)
I wish I read this during university assignments
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Solid Sowell
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The author argues that the US Government was largely responsible for encouraging a housing boom and bust cycle that produced terrible consequences for the world economy in 2008. US Government policy (under Democrat & Republican administrations) promoted home ownership for less affluent Americans (sub-prime housing). The Government incentivised the banks to borrow irresponsibly (e.g., zero down payment mortgages, no proof of earnings) to people who could not afford mortgages after the initial teaser rate period. A downturn in the housing market exposed the folly of this policy as people with little equity in their properties reneged on their mortgages, thereby triggering the collapse.
Whilst the author clearly has a right-wing political bias, I found his arguments rational and well-considered. In fact, the book may have some important lessons relevant to the housing collapse in China in late 2021.
Interesting book, superbly narrated
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Excellent
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I'm guessing there are some Sowell fans looking through these reviews wondering if this short book about a housing bust that happened more than 15 years ago is worth it. Ye of little faith. I wondered that too. But I bought it, and I don't regret it at all. I don't think you will either.
Concise Overview
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Brilliant insights on human made housing bubble.
Oh how I was wrong
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Thank you and May God Bless you.
Great book.
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Beware the bias
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Very one sided Interpretation of facts
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