Paul Samuelson says it’s somewhat understandable why the Federal Reserve last decade missed all the signs pointing toward an eventual housing crisis: There was no long-term perspective.

By that, Sameulson means there hadn’t been a full-blown financial crisis in the U.S. since the Great Depression, and so Fed officials just couldn’t see a crisis coming because they had never seen a crisis coming before. He notes that the Fed, for decades, had viewed its primary job as “smoothing out” business cycles, not watching out for mega-storms, and that sometimes polices to ensure short-term prosperity actually create unseen long-term problems.

Boston Federal Reserve Bank president Eric Rosengren once said roughly the same thing.

After the 2008 Wall Street disaster, Rosengren noted that the main thing policy makers learned was that they needed to learn a lot more about financial markets and the potential for financial meltdowns. The problem is that a full-blown financial crisis is sort of like Haley’s Comet: It only comes around now and then, so there’s not a lot of time to fully observe and collect data on it before it’s come and gone.

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


Back Bay

Beacon Hill

Charles River Park


North End

South End

Seaport District

South Boston



Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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