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The Housing Boom and Bust Audiobook
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(4.01) - 496 listener ratings
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Publisher Description
This is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The “creative” financing of home mortgages, and the even more “creative” marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up and then suddenly collapsed.
The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened.
Sowell unravels the tangled threads of the situation and explores the implications to reveal some surprising and sobering lessons.
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"This was a quick read, but very helpful to me in explaining what happened in the housing market and lending institutions. I felt sick to my stomach as I finished the last chapter, because I do feel like our country is going down the wrong path and I can't understand why our leaders seem so eager to rush headlong into disaster. Sowell talks about the current administration's desire to rush legislation through without allowing for thoughtful discussion: "From the standpoint of those who seek to remake the economic institutions of America, the worst case scenario would be to have the economy begin visibly recovering on its own before they can get their blueprint for salvation enacted into law." I'd love to think these were words of paranoid conspiracy theorists, but they sure look true to me. God save America."
— Sally (5 out of 5 stars)
Quotes
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“For anyone looking for a straightforward and honest discussion of the origins of our current crisis, informed by a deep understanding of both economics and politics, The Housing Boom and Bust is required reading.”
— Washington Times -
“For Washington politicians to get away with spinning the financial crisis the way they have suggests that the American people are either stupid or ignorant. I hope it’s ignorance because The Housing Boom and Bust is the cure.”
— Walter E. Williams, Washington Times -
“Sowell’s account qualifies the standard story that greedy investment bankers and mortgage brokers caused the whole crisis.”
— Newsweek -
“With decades of economic analysis behind him, Sowell achieves a clear and concise assessment of the housing debacle, which is enhanced by Robertson Dean’s methodical narration. Sowell provides a cogent narrative of causal events and points out connections beyond the standard simplistic discussions of predatory lenders and corrupt politicians... Overall, Dean’s role as narrator is pivotal to the production as he emphasizes key points for the listener. His delivery keeps the potentially dry topic of economics compelling and comprehensible.”
— AudioFile -
“Sowell’s latest book, The Housing Boom and Bust, is an economic primer on the housing bubble, but more importantly, it is an examination of the ruling class’ inability to leave well enough alone.”
— American Spectator -
“America’s best writer on economics, particularly when that discipline intersects with politics.”
— World Magazine -
“[In praise of the] coherence and detail of Sowell’s telling.”
— Kiplinger’s Personal Finance
Awards
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A New York Times bestseller
The Housing Boom and Bust Listener Reviews
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" I love the way Thomas Sowell explains the real issues without trying to hide behind a politically correct agenda. Book is read very well by Robertson Dean. "
— Anthony, 9/28/2017 -
" A different view on the economy than what is normally written "
— Jeremy, 2/8/2014 -
" I can't say I liked this book as much as some of Sowell's other books, in particular his "Citizen's guide to the economy", but it does tackle a more specific & near world subject as opposed to general or historical considerations and I can see why it would have such a big appeal to many as it explains quite well some o...f the issues leading up to the present global economics. "
— Void, 1/8/2014 -
" If you really want to know what caused it instead of the nonsense currently being circulated. Very Readable. "
— Grant, 12/16/2013 -
" This book is short, which made me want to read it. The inclusion of charts and graphs would have made it more interesting, but I'm sure more of Sowell's research can be found expanded elsewhere. Makes it very clear that government intervention always disrupts the free market. "
— Karen, 12/16/2013 -
" Good overview of how we got into this mess and did so showing that both parties contributed. I loved how that Congress tries to fix what is wrong and when you look at it, they are trying to fix their previous fix. "
— Ken, 12/14/2013 -
" I am a big fan of Thomas Sowell's work. This brings a sound perspective to what is going on behind the scenes the global economy. This short book cuts through the political rhetoric and flawed thinking that is truly causing the financial erosion of our country. Every citizen and leader needs to understand what Thomas brings up in this book because voting and supporting the wrong leaders that perpetuate bloated government control will be our demise as a country. "
— Dan, 12/14/2013 -
" This was a very good book that helps you understand why the whole housing boom and bust happened. I only gave it 3 stars because I found my mind wandering in a few places. "
— Rorie, 11/25/2013 -
" Spoiler alert: Thomas Sowell thinks the government is to blame. Shocking. "
— Steve, 10/23/2013 -
" Brilliant. Compelling argument that not only are the current president's policies a recipe for long term unemployment but convincing in claiming that the New Deal worsened and prolonged the Great Depression. "
— Ja, 10/3/2013 -
" Great book! Short but thorough. "
— Bud, 9/11/2013 -
" Gives you an economics perspective on the root causes of the housing boom and bust. "
— Joanne, 4/27/2013 -
" Remarkable insight in to the greed and excesses of everyone involved. "
— Dave, 1/5/2013 -
" Nothing more to add than what you would expect from Sowell. "
— Jonathan, 12/13/2012 -
" Great overview of who and what factors were responsible for the housing and credit crisis in America. The problem cannot be layed at the feet of a single group of people. Sowell provides a comprehensive look at all the players in this game. "
— David, 8/12/2012 -
" This was a quick read about an overview of today's housing despair. It is probably recycled from the author's newspaper columns as it was highly repetitous throughout. "
— Alice, 7/24/2011 -
" Great book on what brought about the current housing problem. Thomas Sowell, always distrustful of politicians, explains how political pressure to "help" low income people get housing has now destroyed that opportunity for those people that politicians were supposedly "helping". "
— Shane, 7/13/2011 -
" Great book that highlights some of the problems BIG government creates. President and congress, please let the free market reign, develop lasting infrastructure, and protect our freedoms, don't eliminate them with excess regulation. "
— Brandon, 5/23/2011 -
" Great book that highlights some of the problems BIG government creates. President and congress, please let the free market reign, develop lasting infrastructure, and protect our freedoms, don't eliminate them with excess regulation. "
— Brandon, 3/9/2011 -
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Nicholas Barrett, 12/14/2010
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" This book is short, which made me want to read it. The inclusion of charts and graphs would have made it more interesting, but I'm sure more of Sowell's research can be found expanded elsewhere. Makes it very clear that government intervention always disrupts the free market. "
— Karen, 11/27/2010 -
" Thomas Sowell provides an interesting look at the not so obvious (aka the media doesn't talk about them) factors that went into the housing crisis. Good read for those who want to understand what happened and how it could and should have been prevented. "
— Carol, 11/21/2010 -
" Great book! Short but thorough. "
— Bud, 9/12/2010 -
" A well researched and informative read on how we got to where we are today in the housing debacle. Outlines the concept of "affordable housing" that select politicians have driven down the throats of banks. "
— Christine, 7/25/2010 -
" A must read if you want to know the real story. "
— John, 4/2/2010
About Thomas Sowell
Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. He is the author of dozens of books and the recipient of various awards, including the National Humanities Medal, presented by the president of the United States in 2003.
About Robertson Dean
Robertson Dean has played leading roles on and off Broadway and at dozens of regional theaters throughout the country. He has a BA from Tufts University and an MFA from Yale. His audiobook narration has garnered ten AudioFile Earphones Awards. He now lives in Los Angeles, where he works in film and television in addition to narrating.