The Housing Boom and Bust by Thomas Sowell


My rating: 3 of 5 stars
"Many in politics have acted as if predatory lenders are what caused the housing crisis-a view especially common among those who themselves had a major role in bringing the crisis."

"While some Congressional Democrats have proposed a moratorium on mortgage foreclosures or allowing judges to change the terms of mortgage contracts, Senate Republicans have proposed 'providing government-backed, 4% fixed mortgages to any credit-worthy borrower.' What these proposals from politicians of both parties all have in common is an utter absense of any serious consideration of the repercussions in multiple directions of arbitrary government fiats."

These are just two of the many statements made by Sowell that made me swear in frustration with the rhetoric and choices made by politicians of both parties in the last 20-30 years. How can I recommend a book by saying, "It is a good book, but it will just piss you off anger you.

The thing that scares me is that politicians can replace the phrase "affordable housing" with "affordable healthcare" in any of their rhetoric and still not doubt their proposed policies may cause more harm than good.

View all my reviews >>