Revisiting the 2008 Housing Crisis Narratives

The chapter challenges the common belief that the 2008 housing crisis was solely demand-driven due to excessive lending, exploring how policy decisions and supply constraints played a significant role. It delves into the consequences of housing shortage, migration patterns, and unintended refugee crises resulting from inadequate housing supply in various cities. The discussion emphasizes the need for proper management and policy alignment to avoid such crises and mitigate long-lasting effects on housing markets.