The Housing Boom and Bust

Front Cover
Basic Books, 2009 - Business & Economics - 184 pages
22 Reviews
This is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The “creative” financing of home mortgages and the even more “creative” marketing of financial securities based on American mortgages to countries around the world, are part of the story of how a financial house of cards was built up—and then suddenly collapsed.

The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened when the financial house of cards in the financial markets collapsed.

What to do, now that we are in the midst of an economic disaster, is yet another story—one whose ending we do not yet know, but one whose outlines and implications are explored to reveal some surprising and sobering lessons.

What people are saying - Write a review

User ratings

5 stars
9
4 stars
8
3 stars
4
2 stars
1
1 star
0

Review: The Housing Boom and Bust

User Review  - Nathan Glenn - Goodreads

This book explains the housing boom and 2008 bust simply enough for any to understand, using solid data. He says that the responsibility and irresponsibility were shared around the table, between both ... Read full review

Review: The Housing Boom and Bust

User Review  - David - Goodreads

Got it 2/3 right. Lays blame at government & borrowers but somehow glosses over the culpability of bankers/AIG that should have known what they were buying/insuring. Still, if the tbanker weren't in ... Read full review

About the author (2009)

Thomas Sowell has taught economics at Cornell, UCLA, Amherst and other academic institutions, and his Basic Economics has been translated into six languages. He is currently a scholar in residence at the Hoover Institution, Stanford University. He has published in both academic journals in such popular media as the Wall Street Journal, Forbes magazine and Fortune, and writes a syndicated column that appears in newspapers across the country.

Bibliographic information