Fred Foldvary's 2008 Housing Prediction

In 1998, Georgist economist Fred Foldvary published an article titled "The Depression of 2008," in which he analyzed the long-run real estate cycle in the United States. Using an 18-year pattern of land and housing booms and busts, he predicted that a recession-causing crash in the property market would hit around 2008. Foldvary warned that a real estate bubble and excessive speculation would set up a severe downturn once the cycle turned. A decade later, the U.S. housing market collapsed and helped trigger the 2007–2008 financial crisis.

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