Notes for trust officers, private bankers and others concerned with estate and trust planning, from a Merrill Anderson Senior Editor and his retired mentor.
Nope. The boom was pushed into a bubble by misguided government policies to push home ownership onto populations that couldn't handle the financial end of it. Portions of the population who lacked "animal spirits" were given the money to buy anyway, which bid up prices way beyond sustainable levels.
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Failed to "unleash animal spirits?" Weren't animal spirits what turned the boom into a bubble in the first place?
Nope. The boom was pushed into a bubble by misguided government policies to push home ownership onto populations that couldn't handle the financial end of it. Portions of the population who lacked "animal spirits" were given the money to buy anyway, which bid up prices way beyond sustainable levels.
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