This program will undoubtedly present your audience new information they have not seen, and a completely new conceptual framework about the housing bubble and the financial crisis that will change the way they think about all of their financial decisions. The housing bubble was caused by a severe shortage of housing, but it was blamed on excessive lending and speculation. This led to a disastrous consensus for tight monetary policy and tight lending regulations. Instead of fixing the supply shortage, we brought prices down by imposing a negative credit shock. The evidence behind this new view is strong. A chronic shortage of housing is the key motivating factor in the 21st century American economy. This new understanding of the American economy provides insight into monetary policy, fixed income yields, the business cycle, and labor markets. Will interest rates rise? When will a new recession develop? Why does it seem like there are a constant stream of financial bubbles? A recognition of the forces acting on the $25 trillion residential real estate asset class can inform all of these questions. I can present this program as a short address or as a longer speech or workshop. See my slideshow and video for an introduction to the evidence behind this new view.