Grantham: Biggest Housing Bubble Since 807 A.D. Has Burst
by George Washington
Preface: Many claim that housing is currently experiencing a rebound. Whether or not that ends up being verified, the housing crash which started in 2007 was so massive that it is historic in its significance.
Top economists and economic agencies have recently verified that bubbles cause huge crashes, and are thus bad for the economy. See this, this and this.
We’ve previously noted that the housing bubble which burst in 2007 was bigger than the Great Depression … and perhaps bigger than any housing bubble in 700 years: