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The 2000s United States housing bubble or house price boom or 2000s housing cycle [2] was a sharp run up and subsequent collapse of house asset prices affecting over half of the U.S. states. In many regions a real estate bubble , it was the impetus for the subprime mortgage crisis .
Housing bubbles tend to distort valuations upward relative to historic, sustainable, and statistical norms as described by economists Karl Case and Robert Shiller in their book, Irrational Exuberance. [6] As early as 2003 Shiller questioned whether or not there was, "a bubble in the housing market" [7] that might in the near future correct.
The Washington Post writer Lisa Sturtevant thinks that her audience will buy articles telling them that the housing market of 2013 was not indicative of a housing bubble. "A critical difference between the current market and the overheated market of the middle of last decade is the nature of the mortgage market.
And housing starts have still not recovered from the bursting of the housing bubble in the mid-2000s. Divide between haves and have-nots The forecast for a “stuck” housing market cuts both ways.
A sign is posted in front of new condominiums for sale in Los Angeles. (Credit: Mario Tama, Getty Images) (Mario Tama via Getty Images) A housing supply gap of 6.5 million homes
There are rumblings in the real estate world about whether we're entering another housing market bubble. We took a look recently at California and whether some frenzied homebuying activity there ...
However, in 2007 Greenspan admitted that there was in fact a bubble in the US housing market, and that "all the froth bubbles add up to an aggregate bubble". [81] Despite greatly relaxed lending standards and low interest rates, many regions of the country saw very little growth during the "bubble period".
America’s gummed-up housing market is a $45 trillion mess — a big old knot of economic forces smashing into a century’s worth of cultural conditioning about the value of homeownership.
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