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Boom Bust: House Prices, Banking and the Depressi... by Harrison, Fred Paperback

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eBay item number:142174568435
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Item specifics

Condition
Very Good: A book that has been read and does not look new, but is in excellent condition. No ...
Title
Boom Bust: House Prices, Banking and the Depression of 2010
Book Title
Boom Bust: House Prices, Banking and the Depression of 2010
ISBN
0856832545
EAN
9780856832543
Binding
Paperback / softback
Date of Publication
2007-12-01
Release Title
Boom Bust: House Prices, Banking and the Depression of 2010
Artist
Harrison, Fred
Brand
N/A
Colour
N/A
Publication Year
2005
Type
Textbook
Format
Paperback
Language
English
Publication Name
Boom Bust: House Prices, Banking and the Depression of 2010
Item Height
234 mm
Author
Fred Harrison
Publisher
Shepheard-Walwyn (Publishers) LTD
Subject
Economics, Finance
Item Width
156 mm
Number of Pages
288 Pages

About this product

Product Information

When the first edition appeared in 2005, the consensus among forecasters was that the boom in house prices would cool to an annual 2 or 3% rise over the following years. As predicted by the author, however, prices continued to rise by more than 10% well into 2007. Basing his argument on a study of property markets over the last 200 years, Harrison warns of the danger to banks, business and jobs of ignoring a remarkably regular 18-year cycle. Recent events have proved the accuracy of his prediction. He accuses Gordon Brown of giving people a false sense of security by his oft repeated claim, last made in his 2007 Budget speech, that 'we will never return to the old boom and bust'. Alan Greenspan in the US encouraged a similar belief which led to the risky sub-prime mortgage spree. The reason for the instability, Harrison explains, is not the housing market itself but the land market on which all buildings stand. Land is in fixed supply - as Mark Twain noted: 'They're not making any more of it'. Therefore, as the demand for land for new homes and offices rises with population growth and economic expansion, market forces, which normally increase supply to reduce prices, have the reverse effect: prices rise. This encourages speculation, with banks lending more against escalating asset values and reinforcing the upward spiral. Under existing government policies, the only way land prices can be brought back to affordable levels is a slump, undermining the banking system and causing widespread unemployment and repossessions. This is what happened with the collapse of US sub-prime mortgages. The author argues that monetary policy and bank regulation only have a marginal impact on land speculation. The only way of neutralising the boom bust cycle and creating conditions of economic stability is a fundamental reform of the tax system.

Product Identifiers

Publisher
Shepheard-Walwyn (Publishers) LTD
ISBN-13
9780856832543
eBay Product ID (ePID)
92103997

Product Key Features

Publication Year
2005
Subject
Economics, Finance
Number of Pages
288 Pages
Language
English
Publication Name
Boom Bust: House Prices, Banking and the Depression of 2010
Type
Textbook
Author
Fred Harrison
Format
Paperback

Dimensions

Item Height
234 mm
Item Width
156 mm

Additional Product Features

Country/Region of Manufacture
United Kingdom
Title_Author
Fred Harrison

Item description from the seller

Seller business information

I certify that all my selling activities will comply with all EU laws and regulations.
VAT number: DE 281042328, EL 996857788, ES N8267548I, FR 27823676960, GB 922696893, IT 00185819992
CRN: 06437594
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