“The Party is Over”; Origin and Causes of the Housing Crisis

17 June 2008 by Arturo Guillén R.


This paper’s aim is to analyze the origins and causes of the housing crisis that began emerging in the U.S. economy in early 2007, becoming a grave financial crisis by August.
In the second part, I will examine the background to the crisis: the long 1990s boom, the 2000 NASDAQ crisis and the policies adopted to extricate the system from it. Section 3 presents a brief chronology of the housing crisis; in part 4, I will suggest some hypotheses for understanding it theoretically; and in section 5, some conclusions.




Arturo Guillén R.

Arturo Guillén. Profesor – Investigador del Departamento de Economía la Universidad Autónoma Metropolitana Iztapalapa. Profesor del “Posgrado en Estudios Sociales, Línea Economía Social” de la misma Universidad. Coordinador General de la Red de Estudios sobre el Desarrollo Celso Furtado (www.redcelsofurtado.edu.mx). Miembro del Sistema Nacional de Investigadores. E-mail: artguillenrom at hotmail.com. Fax: 55 5612 5682.

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