[].2 Residential construction and automobile production
One important alternative hypothesis of the Great Depression trigger is
the one connected to the decline in residential construction that
started in 1927 and accelerated in 1929 [ ]. A related view invokes
mortgage lending [ ]. At the same time, in 1929 another industry
underwent a boom and a sudden decline – automobile production. It will
become clear further in this section why these two industries should be
dealt with in tandem.
As Fig. [ ] demonstrates, residential construction in the US boomed
in 1921-26, the annual value of such construction increasing more than
fivefold.