In the early 2000s, specifically 2008, experienced a major housing crisis. Sowell said that the bubble was fueled by the government. He said that the government were claiming they made it more affordable, but actually ruined the market doing so. The Federal Reserve kept interest rates low, adding more fuel to the fire. An unseen thing is when the prices affected the builders to build less houses, resulting in now higher prices, especially in places like California.
Chapter 10 Response and Reply
Chapter 10
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