Building from the Ground Up: Reclaiming the American Housing Boom
Myths and misunderstandings about what happened in the Great Recession continue to hinder the American economy by making us afraid of the one thing we need most: more homes.

Remember when mania led to a massive housing bubble? When Americans found themselves saddled with too many houses and were hit with the reality that our economy had been built on unsustainable borrowing? Everyone knows about that, right?

What if that was wrong? What if, when we get down to brass tacks, Americans have been struggling to build enough new housing—especially in places where housing is in high demand—and this was true, even in 2005?

Viewing the economic calamities of the twenty-first century with this central insight turns the conventional wisdom about our economic challenges upside down. The need for more homes has been the core cause of American economic instability and stagnation. Building from the Ground Up will guide you to a sweeping new perspective about the Great Recession and the financial crisis, which points to a brighter path for America’s economic potential.
1139794755
Building from the Ground Up: Reclaiming the American Housing Boom
Myths and misunderstandings about what happened in the Great Recession continue to hinder the American economy by making us afraid of the one thing we need most: more homes.

Remember when mania led to a massive housing bubble? When Americans found themselves saddled with too many houses and were hit with the reality that our economy had been built on unsustainable borrowing? Everyone knows about that, right?

What if that was wrong? What if, when we get down to brass tacks, Americans have been struggling to build enough new housing—especially in places where housing is in high demand—and this was true, even in 2005?

Viewing the economic calamities of the twenty-first century with this central insight turns the conventional wisdom about our economic challenges upside down. The need for more homes has been the core cause of American economic instability and stagnation. Building from the Ground Up will guide you to a sweeping new perspective about the Great Recession and the financial crisis, which points to a brighter path for America’s economic potential.
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Building from the Ground Up: Reclaiming the American Housing Boom

Building from the Ground Up: Reclaiming the American Housing Boom

by Kevin Erdmann
Building from the Ground Up: Reclaiming the American Housing Boom

Building from the Ground Up: Reclaiming the American Housing Boom

by Kevin Erdmann

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Overview

Myths and misunderstandings about what happened in the Great Recession continue to hinder the American economy by making us afraid of the one thing we need most: more homes.

Remember when mania led to a massive housing bubble? When Americans found themselves saddled with too many houses and were hit with the reality that our economy had been built on unsustainable borrowing? Everyone knows about that, right?

What if that was wrong? What if, when we get down to brass tacks, Americans have been struggling to build enough new housing—especially in places where housing is in high demand—and this was true, even in 2005?

Viewing the economic calamities of the twenty-first century with this central insight turns the conventional wisdom about our economic challenges upside down. The need for more homes has been the core cause of American economic instability and stagnation. Building from the Ground Up will guide you to a sweeping new perspective about the Great Recession and the financial crisis, which points to a brighter path for America’s economic potential.

Product Details

ISBN-13: 9781637581612
Publisher: Post Hill Press
Publication date: 01/11/2022
Pages: 272
Product dimensions: 6.00(w) x 9.00(h) x 0.50(d)

About the Author

Kevin Erdmann is the author of Shut Out: How a Housing Shortage Caused the Great Recession and Crippled Our Economy. His work has appeared in the Wall Street Journal, the National Review, US News, Politico, on C-SPAN, and at the Mercatus Center.

Table of Contents

Introduction 7

Part 1 A New History of the Great Recession

Chapter 1 What Really Happened 15

Chapter 2 American Exceptionalism since 2007 24

Chapter 3 Kicking the Tires on the Evidence 28

Part 2 Demand during the Housing Boom

Chapter 4 Fannie, Freddie, and Ginnie 49

Chapter 5 Unconventional Mortgages, Home Prices, and Construction Employment 61

Chapter 6 Low Interest Rates 74

Part 3 From Soft Landing to Suicide Pact

Chapter 7 The Back-Door Exodus 89

Chapter 8 Losing the Commitment to a Soft Landing 97

Chapter 9 The Peculiar Effects of Closed Access Hid Early Signs of Decline 114

Part 4 Marching Hand in Hand to Crisis

Chapter 10 No Bailouts! 125

Chapter 11 CDOs and Fear in the Marketplace 141

Chapter 12 Why Did Borrowers Default? 154

Part 5 Adding Insult to Injury

Chapter 13 The Federal Reserve's Big Blunder 165

Chapter 14 The Financial Regulators' Big Blunder 179

Part 6 Where Do We Go From Here?

Chapter 15 Turbo Charge the Recovery from the Covid-19 Recession 195

Chapter 16 Considerations for the Long Term 201

Acknowledgments 217

About the Author 219

Endnotes 221

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