Business Insider posted an analysis by Philip J. Anderson of real estate bubbles throughout U.S. history, including slides showing graphs of the booms and bust of the housing market’s natural cycles.
"For the first 144 years of real estate enclosure in the U.S., land sales and/or real estate construction peaked almost consistently, every 18 years," Anderson writes. "The world’s worst downturns are always preceded by land speculation (the chasing of the economic rent) fueled by misguided credit creation courtesy of the banks."
To see the rest of the slides and read the full analysis, click here.
PB Topical Ref
