The Housing Boom and Bust By Thomas Sowell und 2 weitere

    Sowell at his best! Thomas Sowell und 2 weitere It really is just not that complicated. Brilliantly explained. Thomas Sowell und 2 weitere Sowell has written another delightful book, small, succinct, to the point and an easy read. He starts with a persuasive explanation of high and rising housing prices resulting from restricting land use and open space laws so that lot prices rose tremendously but Thomas Sowell und 2 weitere The boom and bust in the US housing market has had enormous implications for the world economy as a whole so it is useful to have a grasp of what caused it, how we can avoid doing it again and how not to respond.

    The bust is easy to explain house prices rises vastly exceeded gains in income, population or productivity so could not be sustained. A bust was inevitable, explaining the boom is the tricky part.

    Contrary to popular dogma the boom wasn't fueled by 'deregulation' or the free market but was brought into being by the government interventions whether in restricting land use or coercing banks to drop lending standards.

    I won't attempt to rehash the entire book but Sowell looks at the impact of all the main players the banks, the federal government, Fannie & Freddie and the regulators and explains how they each interacted to cause this failure. Unsurprisingly politicians come outparticularly badly.

    The book probably was rushed out by the publishers soon after the crisis came to a head in late 2008 and early 2009, hence the awkward lack of numbered end notes (there is a chapter by chapter list of sources but it is much harder to cross reference). However the analysis doesn't really suffer because Sowell has been writing about aspects of the crisis for years before the actual crash. Thomas Sowell und 2 weitere Sowell at his usual best. Concise and rich. Thomas Sowell und 2 weitere

    Completely changed my perspective on this subject! Thomas Sowell und 2 weitere

    There was no single, dramatic event that set the current financial crisis off. A whole series of very questionable decisions by many people, in many places, over a period of years, built up the pressures that led to a sudden collapse of the housing market and of financial institutions that began to fall like dominoes as a result of investing in securities based on housing prices. 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 likely to make things better or worse. The Housing Boom and Bust


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