Publisher's Synopsis
The book analyzes U.S economy, construction industry, and residential market crisis and recovery from 2000 to 2019. The motivation emanated from the need to document the unprecedented housing market crisis (and recovery) and its negative effects on the hitherto seeming formidable U.S economy. The expectation is that analysis of the data and findings should yield some policy recommendations and suggestions on how to ameliorate the impacts of weak economy and housing crisis on the nation, regions, cities, neighborhoods, groups, and individuals. The question is what factors were responsible for the housing crisis, economic meltdown, and the recoveries? What type of economic and housing policies and programs should guarantee a Goldilocks economy in the U.S? The corrective measures were on how to create enough demand to keep the economy humming at a healthy pace. The study should likely help students of housing and economic development as well as policy makers at national, regional, and local levels by equipping them with adequate knowledge of what led to the housing bubbles of mid-2000 decade that overheated the economy; the policy instruments used to mitigate the economic and housing market problems when the bubbles busted; and the necessary proactive measures needed to protect housing industry market and economy. The significance of the study includes the lessons learned about what caused the housing crisis and ensued economic meltdown; the recovery policies and programs; and how to guard against the crises from happening in the future, should undoubtedly make the study a worthwhile effort.
