From Bubble to Depression?: Why the Housing Crash Ruined the Financial System but the Dot-com Crash Did Not
What sparks economic bubbles? Why didn't the dot-com bubble do damage to the financial system while the housing bubble lead to its collapse? Key characteristics of housing markets combine to provide a description of the housing bubble collapse, and how it engulfed the financial system and the wider economy.
Gjerstad, S., & Smith, V.L. (2009, April 6). From bubble to depression?: Why the housing crash ruined the financial system but the dot-com crash did not. Wall Street Journal, pp. A15.
Wall Street Journal