"All [economic] recoveries are associated with recoveries in housing...except for the Great Recession, this last one," says behavioral economist and Nobel Prize winner Vernon Smith.

"Vernon Smith and Steve Gjerstad on Housing and the Never-Ending Recession" is the latest offering from Reason TV. Watch above, or click the link below for full text and downloadable versions.

Approximately 35 minutes. Filmed by Alex Manning and Meredith Bragg. Edited by Zach Weissmueller.