Real estate is often marketed as a secure, risk-free investment, yet history reveals a far more volatile truth. Challenging the myth that property is "as safe as houses", this essential work uncovers the hidden, cyclical nature of real estate markets. Phillip J. Anderson provides a rigorous analysis of the last two centuries of American economic history to demonstrate how booms, busts, and recessions occur with startling regularity.
By mapping the journey from recovery through speculative expansion to inevitable collapse, the book reveals how banking systems facilitate these cycles and how regulations are consistently circumvented. Rather than unpredictable accidents, these economic shifts follow a discernible eighteen-year pattern. Anderson explains these recurring phases, providing readers with the historical context necessary to navigate modern property markets with clarity. This is an indispensable guide for anyone seeking to understand the mechanics of banking and real estate, offering the knowledge to identify where we currently stand in the cycle and, crucially, what to expect next. This masterfully researched text replaces dangerous assumptions with empirical evidence, arming investors with the foresight to protect their interests in an ever-shifting economic landscape.
Used (good, see images, some yellowing and minor dust jacket wear) Hardcover ISBN 9780856832635
