House Prices, Banking and the Depression of 2010
Focusing on the housing market, Harrison explains why real estate is different from all other assets. Twenty years after he first documented the 18-year “real estate cycle”, Harrison’s case for the pivotal role of land speculation in the business cycle is even more compelling.
Harrison believes that under present policies, the boom-bust cycle is predictable, and readers can learn how to avoid being trapped in the debts that bankrupt businesses and lead to the repossession of homes. However, he shows that the more desirable aim of long-term stabilitysought by governments around the worldis not achievable without a particular reform of taxation.