The Housing Boom and Bust 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 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.


About Thomas Sowell

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Bestselling author Thomas Sowell has been on the faculties of leading universities across the country, an economist in the corporate world and in government, and a scholar in residence at three think tanks. His books have been translated into nine languages, and his essays have appeared in "The New York Times, The Wall Street Journal, Time, Newsweek, Forbes, " and "Fortune" and are syndicated to 150 newspapers. For the past two decades, he has been a Senior Fellow at the Hoover Institution, Stanford University. His Internet Web site is
Published February 2, 2010 by Basic Books. 258 pages
Genres: Business & Economics, Political & Social Sciences. Non-fiction

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In a complement to books like Basic Economics, Applied Economics, and Economic Facts and Fallacies, Sowell offers a handy guide to the economics of housing markets and the brief history of the housing boom and bust.

Jun 16 2010 | Read Full Review of The Housing Boom and Bust

National Review Online

Actually, he notes, they didn’t — except in a very few places.

Jul 06 2009 | Read Full Review of The Housing Boom and Bust

National Review Online

But behind all the complexities was a very simple fact: Monthly mortgage payments by millions of home buyers were what provided the money for the banks, the financial institutions that bought mortgages from the banks, and the Wall Street firms that created sophisticated securities based on those ...

Apr 29 2009 | Read Full Review of The Housing Boom and Bust

National Review Online

Where housing markets have been more or less left alone — in places like Houston or Dallas, for example — housing did not take even half as big a share of family incomes as did comparable housing in places like the San Francisco Bay Area, where heavily hyped political crusades had led to severe r...

May 11 2009 | Read Full Review of The Housing Boom and Bust

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