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The burst of the housing bubble was predicted by a handful of political and economic analysts, such as Jeffery Robert Hunn in a March 3, 2003, editorial. Hunn wrote: [W]e can profit from the collapse of the credit bubble and the subsequent stock market divestment [(decline)].
A housing bubble (or housing price bubble) is one of several types of asset price bubbles which periodically occur in the market. The basic concept of a housing bubble is the same as for other asset bubbles, consisting of two main phases. First there is a period where house prices increase dramatically, driven more and more by speculation.
In areas of the United States believed to have a housing bubble, price increases have far exceeded the 50% that might be explained by the cost of borrowing using ARMs. For example, in San Diego area, average mortgage payments grew 50% between 2001 and 2004.
By this measure, current market conditions are seemingly even worse than when the housing bubble burst. “Even during the 2008 housing bust, home sales weren’t as weak as they were in 2023 ...
A housing bubble can cause property prices to soar to unrealistic levels, leading to an eventual crash that can have detrimental effects on homeowners and the economy as a whole. In 2008, this ...
"I think the biggest bubble right now is commercial real estate,” Gary Shilling, an economist best known for correctly forecasting the 2008 housing crash, said on investing podcast The Julia La ...
Properties that were repossessed in the first half of 2015 was 37 percent above the number of repossessions in the first half of 2006 (before the housing bubble burst). [ 113 ] Year-end : A total of 1,083,572 properties received foreclosure notices in 2015, a 3 percent decrease over 2014, and the lowest in 9 years. 0.82 percent of all ...
Production of new single-family homes reached more than 1 million annually in 2022 and 2023 for the first time since the housing bubble burst in 2007, according to the survey.