Lessons (Not) Learned from Past Housing Bubbles and Crises

Bubble or overpriced. Will the bubble burst and the prices crash, or will it be a smooth landing? To determine whether we are currently experiencing a housing crisis or on the edge of a new crisis, past housing crises starting from the Panic of 1837 and including the 1929 Great Depression, 2008 Global Financial Crisis, and many others are analyzed and compared in this chapter. The reasons for these crises, their common and unique characteristics, their consequences, and the lessons learned from past mistakes are examined.