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Housing Bubble Week Epilogue: Not All Bubbles Are Created Equal - Vernon Smith
The Joe Walker Podcast
The Price Cycle and the Great Depression
David Frum: It seems to me there's a couple of channels by which a housing bust generates a recession. He says people not selling their homes, putting jobs in real estate and banking at risk is part of the problem. And so construction just went down to just almost nothing, he says. But more than that, people were had their balance sheets badly damaged; it was bell tightening all over the place.
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