Baker, Dean - Center for Economic and Policy Research (CEPR) - 2012
intention was to spur home buying and put an end to the plunge in home prices, which were dropping at an annual rate of close to … end of 2011, nationwide home prices had fallen by 8.4 percent since the credit-induced peak reached in the second quarter … to sell their homes at prices that were still partially inflated by the bubble. This was good for these homeowners, as …