Housing Prices During the Boom

Jaime Luque
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Jaime Luque: 1University of Wisconsin-Madison, USA

Chapter 21 in The Subprime Crisis:Lessons for Business Students, 2017, pp 179-188 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The increase in housing prices led consumer confidence in real estate investment to an irrational level, in which individuals felt that houses would continue their rise in value indefinitely. As credit expanded to subprime borrowers, homeownership became more than just a personal housing decision — it became a popular vehicle for investment. What were the causes of this surge in housing prices, and what role did they play in the overall development of the crisis? Understanding this linkage is essential to grasping the root causes of the housing bubble that preceded the imminent economic meltdown…

Keywords: Subprime Crisis; Great Recession; 2009 Recession; Mortgage; Financial Market; Preventing Recession; 2009 Crisis; Interest Rates (search for similar items in EconPapers)
JEL-codes: G01 G1 (search for similar items in EconPapers)
Date: 2017
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