Real Estate Depression

Paper Summary:

The paper discusses the downturn in real estate prices and compares the situation to that of the Great Depression. The paper looks at the lending market and the construction industry and predicts that there is a coming depression.

From the Paper:

"Many people who lived through the Great Depression or who have studied it are concerned about the real-estate economy as it appears today, stating that current conditions mirror those that occurred just prior to the Great Depression. . There has been a significant boom in prices, that allowed many to over-finance and overextend their debt, which many say will in turn create havoc when paper debt exceeds real value of real estate holdings."

Sample of Sources Used:

• Associated Press "Wells Fargo CEO: Housing evokes Great Depression..." Retrieved, November 18, 2007 from: http://www.azcentral.com/realestate/articles/1115biz-wellsfargo15-ON.html
• Burkett, Paul. "Forgetting the Lessons of the Great Depression." Review of Social Economy 52.1 (1994): 60.
• Byrne, J. Peter, and Michael Diamond. "Affordable Housing, Land Tenure, and Urban Policy: The Matrix Revealed." Fordham Urban Law Journal 34.2 (2007): 527.
• Temin, Peter. Did Monetary Forces Cause the Great Depression?. New York: W. W. Norton, 1976.
• "Threat of Falling Market Concerns Homeowners." The Washington Times 22 June 2005: A01.

More papers on Real Estate Depression:

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• Essay # 100333 : "The Canadian Condominium Industry"

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