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The Housing Boom and Bust: Revised Edition (edition 2010)
The Housing Boom and Bust by Thomas Sowell
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Amazon.com Product Description (ISBN 0465018807, Hardcover)
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 upand 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 storyone whose ending we do not yet know, but one whose outlines and implications are explored to reveal some surprising and sobering lessons.
(retrieved from Amazon Thu, 12 Mar 2015 18:07:29 -0400)
Explains 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 "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.
(summary from another edition)
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