Why Housing?
Asset bubbles come and go. Only the housing bubble, however, brought the economy to its knees. Why? What makes housing uniquely a cause of macroeconomic risk? This article examines the workings of the housing market as well as theories and empirical evidence about the housing bubble. It explains why housing is a particular source of macroeconomic risk and how changes in the housing finance channel were the critical element in the formation of the bubble.
Year of publication: |
2013
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Authors: | Levitin, Adam J. ; Wachter, Susan M. |
Published in: |
Housing Policy Debate. - Taylor & Francis Journals, ISSN 1051-1482. - Vol. 23.2013, 1, p. 5-27
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Publisher: |
Taylor & Francis Journals |
Saved in:
Online Resource
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