@pluralistic Another ... interesting ... dynamic of collapsing bubbles is of bad investments driving down good.

J.K. Galbraith notes in The Great Crash: 1929, a book I know you've read and like --- see also "bezzle".

Galbraith:

The great investment trust boom had ended in a unique manifestation of Gresham's Law in which the bad stocks were driving out the good.

#Housing #Bubbles #JKGalbraith #JohnKennethGalbraith #TheGreatCrash1929 #GreshamsLaw