The American Real Estate Ponzi Scheme: Is History Repeating Itself?

Longtime real estate industry experts John Agostinelli and Christopher Michaud, authors of Easy Money and the American Real Estate Ponzi Scheme, had front row seats during the great recession and witnessed the strange lending practices that blew up the housing bubble, created disastrous consequences for government-endorsed loans, and hurt low to moderate income people and the communities they lived in. Not only did government create the problem, they say, but government's reaction to the crisis made matters worse. Agostinelli and Michaud say history is repeating itself right in front of us, and if we do nothing to stop the volatility in real estate markets, we risk the impending doom of the next housing collapse.