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The Housing Boom and Bust: Revised Edition
     

The Housing Boom and Bust: Revised Edition

4.2 13
by Thomas Sowell
 

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Scary headlines and scarier statistics tell the story of a financial crisis on a scale not seen in decades—certainly not within the lifetime of most Americans. Moreover, this is a worldwide financial crisis. Financial institutions on both sides of the Atlantic have either collapsed or have been saved from collapse by government bailouts, as a result of buying

Overview

Scary headlines and scarier statistics tell the story of a financial crisis on a scale not seen in decades—certainly not within the lifetime of most Americans. Moreover, this is a worldwide financial crisis. Financial institutions on both sides of the Atlantic have either collapsed or have been saved from collapse by government bailouts, as a result of buying securities based on American housing values that eroded or evaporated.

Now completely revised in paperback, The Housing Boom and Bust 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.

Product Details

ISBN-13:
9780465019861
Publisher:
Basic Books
Publication date:
02/23/2010
Edition description:
First Trade Paper Edition
Pages:
256
Sales rank:
344,410
Product dimensions:
6.38(w) x 9.28(h) x 0.69(d)
Age Range:
13 - 18 Years

Meet the Author

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 and in such popular media as the Wall Street Journal, Forbes magazine, and Fortune, and he writes a syndicated column that appears in newspapers across the country.

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Housing Boom and Bust: Revised Edition (Large Print 16pt) 4.2 out of 5 based on 0 ratings. 13 reviews.
Anonymous More than 1 year ago
Not the usual "blame the previous administration" here. This author goes looking for unintended economic consequences in all his books. Finds some chilling ones for this books conclusion. If you want a different viewpoint, a different opinion from the "liberal press consensus" view, here it is. Don't look for flattering opinions of Chris Dodd or Barney Frank . Apparently they pressed hard to lower credit standards BEFORE the housing collapse. Denied all afterwards. Only one reporter asked then about it and she got the bluster treatment. Don't ask me, READ THE BOOK. I had to put it down several times because I got so upset. Have been unemployed for 2 years and I am 63 years old.
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ee4 More than 1 year ago
Thomas Sowell encourages the reader to evaluate the actual results of adopted governmental policy. He highlights the lack of incentive on the part of politicians to take responsibility for the unanticipated adverse consequences of previously adopted policies. He describes how political incentives lead those in government to incorrectly publicly blame others outside of government, often successfully. This leads to calls for "more regulation," resulting in misplaced expectations that government could, in some way, solve a crisis for which it was responsible, and which it did not have the insight or desire to prevent.
Anonymous More than 1 year ago
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Lv2ReadNC More than 1 year ago
This was an excellent read and I've recommended it to many others. It should be on the MUST reading list for every member of the Senate and Congress. Thomas Sowell clearly defines the path to the housing bust. He meticulously shows who all the players were and the role each played in the build-up of the housing fantasy. It is particularly important to note the role of government in this fiasco. While many want to blame the banks and mortgage companies for bad lending practices, and they were guilty, don't overlook that our government used strong arm tactics to insist that just about any breathing sole who asked for a loan could get one. Take a close look at Fannie Mae and Freddie Mac and the shape they're now in. Mr. Sowell makes a good case for what happens when we stop using common sense and move away from sound lending/business practices.
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watkd25 More than 1 year ago
This is a very well written book by the conservative economist Thomas Sowell. That being said, I noticed a little bit of bias in the last two chapters of the book. What is worth mentioning, from the last chapter, the author felt it necessary, and justifiably, to compare the New Deal to that of the Great Recession in the last chapter. I felt the author leaned continuosly on the right in his explanation of why Herbert Hoover initiated policies that helped the economy recover from the crash of 1929 and how the New Deal did not really help the economy recover. And when the economy did recover it was because of World War II not completely the New Deal. This drew skepticism. I do like the fact that as an economist, he explained the situation clearly, you do not have to take an economics class or be an economist to understand the information from within the book. With all the said, even though there was some bias, there is more than enough information within the book that explains the why and how of the situation that will be surely be in the history books.