Housing Bubble Economy

Another interesting Kunstler quote from an interview in the New Yorker:

...over the last decade, the housing bubble sort of became the replacement
for the manufacturing economy. You know, we pretended we had a service economy,
we pretended we had a digital economy, but what we really had was a
housing-bubble economy, and what that was all about was building more of an
infrastructure for a daily life with no future. So it was a completely tragic
fiasco, and now we’re seeing a severe and radical implosion of that, which is
just going to thunder through our lives for years to come.