Did housing and consumer boom lead to prosperity in the US?

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#1
  • The housing and consumer boom of the 1920’s created the basis of prosperity in the US.
  • Large investments in housing and household goods seemed to create a cycle of higher employment and incomes, rising consumption demand, more investment and yet more employment and incomes.
  • In 1923, US resumed exporting capital to the rest of the world and became the largest overseas lender.
  • US imports and capital exports also boosted European recovery and world trade and income growth over the next six years.