love this debate! the market built a ton of houses leading up the the GFC until the market decided it was too risky: https://fred.stlouisfed.org/series/HOUST ht

love this debate! the market built a ton of houses leading up the the GFC until the market decided it was too risky: https://fred.stlouisfed.org/series/HOUST https://fred.stlouisfed.org/series/HOUST this was in a similar regulatory environment we face today. so if you take the market logic, then the market caused the problem as much as regulations.