Rational Minds Part 1: A Nation Of Gamblers - Ed Glaeser
The Joe Walker Podcast
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Is There a Too Big to Take on Topic in Real Estate Speculation?
Eliot Klein: I think you're uniquely placed to answer a question that I have been wrestling with for some years now. The Great Ken Binmore said he doesn't think anybody at all too big to take on. He says land speculation in the US from the beginning was a great piece of land speculation. In 1819, Alabama's cotton bubble crashed down to earth because it couldn't support prices so far above what other countries could grow their own crops. And once again, housing bubbles came down to earth and sometimes buyers ultimately built on land they didn't really need.
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