Under Jeb Bush, housing prices fueled Florida’s boom. Then it all went bust.

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    Jul 28, 2015 5:14 PM GMT
    BOCA RATON, Fla. — On the campaign trail, Jeb Bush has repeatedly emphasized his record overseeing Florida’s boom economy as the state’s governor. He says it’s an example of an economy that created a huge number of jobs and benefited the middle class — an example of what he could do as president. “I know how to do this,” he said in Maitland, Fla., on Monday.

    But according to interviews with economists and a review of data, Florida owed a substantial portion of its growth under Bush not to any state policies but to a massive and unsustainable housing bubble — one that ultimately benefited rich investors at the expense of middle-class families.

    http://www.washingtonpost.com/business/economy/under-jeb-bush-housing-prices-fueled-floridas-boom-then-it-all-went-bust/2015/07/27/3cb40da2-2409-11e5-b72c-2b7d516e1e0e_story.html?tid=pm_business_pop_b

    This was a decidedly unimpressive performance from the party that claims to be solid on economics and from the man who will probably end up as the GOP's presidential nominee.
  • tj85016

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    Jul 28, 2015 5:44 PM GMT
    come on, the housing boom was started by Bill Clinton and Cuomo at HUD when they strong-armed all the banks to lower lending standards to nothing (zero down, no doc, no income verification, interest-only ARMS)

    that's why no bankers went to jail for fraud

    banks in Florida were particularly aggressive in writing bad/fraudulent mortgages (Georgia, Nevada, Arizona, California also)
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    Jul 28, 2015 9:21 PM GMT
    It is a “huge stretch” for Bush to hold up Florida’s growth as a model for the country, said Stan Veuger, an economist at the ­conservative American Enterprise Institute who is not affiliated with any presidential campaign. “I don’t think you can replicate that growth, from a state with one of the hottest housing markets in the nation, in any sustainable fashion,” he said.
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    Jul 29, 2015 3:44 PM GMT
    That would be the same housing bubble that swept a lot of the rest of the country correct? The one caused by a federal government forcing lenders to write loans to the unqualified and thus overheating the market.

    Yes that's the one I thought you meant.

    Bush was swept along for the ride.



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    Jul 29, 2015 3:51 PM GMT
    Ex_Mil8 saidIt is a “huge stretch” for Bush to hold up Florida’s growth as a model for the country, said Stan Veuger, an economist at the ­conservative American Enterprise Institute who is not affiliated with any presidential campaign. “I don’t think you can replicate that growth, from a state with one of the hottest housing markets in the nation, in any sustainable fashion,” he said.


    Texas and North Dakota seem to have the title now. So maybe you can replicate that growth. It's OK. Most economists typically get it wrong.

    http://www.economist.com/news/business/21657825-you-do-not-have-travel-emerging-world-discover-emerging-markets-boomtown-usa
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    Jul 29, 2015 6:29 PM GMT
    desertmuscl saidThat would be the same housing bubble that swept a lot of the rest of the country correct? The one caused by a federal government forcing lenders to write loans to the unqualified and thus overheating the market.

    Yes that's the one I thought you meant.

    Bush was swept along for the ride.



    Nobody claims that to be Bush's bubble.

    The issue is that Bush Bullshits about supposed economic gains which were not his to claim but by bubble feigned.