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Does 2007 = 1929?

Posted by: Dean Foust on August 20

For those among you who subscribe to the notion that the housing downturn will lead to the next Great Depression, I pass along this video …

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Reader Comments

Lord

August 22, 2007 12:02 PM

The closer parallel would be 1907. Fortunately we don't have to contend with gold standard mismanagement though.

Nemoudeis

August 27, 2007 07:24 AM

The day I give up on the Knickerbocker Trust Company is the day the High Collar Fat Cats and fine-haired Monocle Boys sneak in and pry those shares from my cold, dead hands! I just kept tellin' myself: "you never take the loss until you sell the shares ... you never take the loss until you sell the shares ..."

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About

BusinessWeek editors Chris Palmeri, Prashant Gopal, Peter Coy, and Dean Foust chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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