How does the Great Recession compare to the Great Depression? Some data points we have:
- Home ownership in 1930 was 47.8% versus 66.2% in 2000, and near 70% in 2006. (Census Bureau)
- Unemployment was 25% at its Depression peak; the 2007-09 Recession never saw U3 Unemployment get over 12%. (BLS)
- GDP lost 30% in the Great Depression; During the Great Recession, we lost 6% of GDP. (BEA)
- Following the 1929 crash, broad stock market losses were more than 75% (Peak to trough Dow losses were 89%). 2007-09 stock losses were 50-57%.
- Industrial production, which plummeted 75% around the 1929 Crash, has actually thrived during the Great Recession. Fed action and a weak dollar has helped US Manufacturers.