I wish I read this during university assignments

Well read and greatly expanded on the topic which I had to research for an assignment regarding the 2007~08 financial crisis. Sowell explained some political aspects I didn't even consider but wish I had access to. Although my lefty professors probably wouldn't have liked.

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Solid Sowell

Good book explaining how the media controlled narrative is wrong and the market crash was than just greedy wall street

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Interesting book, superbly narrated

I gave this book a listen as it was free on the Plus Catalogue. I really enjoyed the book and the narration was excellent.

The author argues that the US Government was largely responsible for encouraging a housing boom and bust cycle that produced terrible consequences for the world economy in 2008. US Government policy (under Democrat & Republican administrations) promoted home ownership for less affluent Americans (sub-prime housing). The Government incentivised the banks to borrow irresponsibly (e.g., zero down payment mortgages, no proof of earnings) to people who could not afford mortgages after the initial teaser rate period. A downturn in the housing market exposed the folly of this policy as people with little equity in their properties reneged on their mortgages, thereby triggering the collapse.

Whilst the author clearly has a right-wing political bias, I found his arguments rational and well-considered. In fact, the book may have some important lessons relevant to the housing collapse in China in late 2021.

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Excellent

Great content and narrater is excellent. Thomas Sowell really tells it as it is, which is nothing like the mainstream will have you believe.

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Concise Overview

High-quality and succinct overview of the housing boom and bust that precipitated the 2008 financial crisis. The book is specifically about the former, not the latter, but as Sowell says, it was the housing crash and the bad loans associated with it which set off all the subsequent chaos so it is very much worth examining on its own terms.

I'm guessing there are some Sowell fans looking through these reviews wondering if this short book about a housing bust that happened more than 15 years ago is worth it. Ye of little faith. I wondered that too. But I bought it, and I don't regret it at all. I don't think you will either.

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Oh how I was wrong

I was so very wrong about the reasons for the 2007 financial and housing crash, I've read many Thomas Sowell books and I always leave with hmm so that's the truth of it.

Brilliant insights on human made housing bubble.

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Great book.

Another great book written by Tom. Easy to follow and understand.
Thank you and May God Bless you.

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Beware the bias

Sowell is his usual self. There is some good points in the book, but as a whole it suffers from a libertarian bias that results in him criticising government interventions but lets free market issues off easy. It is ironic that he warns of the damage of the good intentions of the righteous while shining a light in a problem almost exclusively from his preferred side.

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Very one sided Interpretation of facts

A missed opportunity to balance the madness of the mortgage market before the bust with causations both in housing policy but also the lack of adequate regulation. Places the blame squarely on government intervention in what can only be interpreted as a quasi religious view of causation, not once recognizing the responsibility of extra government actors in the catastrophe that was the housing boom and bust. Such a shame, some arguments were actually compelling but the whole narrative is marred by deep and misguided ideologic discourse. Classic Sowell

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