Why Was the Housing Bubble So Much More Damaging than the Dot.Com Bubble?

It’s a good question that someone asked me to speak to the other day, and here’s what I’ve got so far:

–Not because it was bigger: according to established bubble-ologist Dean Baker, the 1990s dot.com bubble was, if anything, larger than the 2000s housing bubbles: he has the former at $8-$10 trillion of bubble-induced wealth and the latter at $8 trillion. I don’t think anyone, including Dean, would swear by those numbers, but I don’t think there’s much of a case that the housing bubble was worse because it was a lot larger.

via Why Was the Housing Bubble So Much More Damaging than the Dot.Com Bubble? | Jared Bernstein | On the Economy.

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Why Was the Housing Bubble So Much More Damaging than the Dot.Com Bubble?

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