Productivity swings and housing prices
James Kahn ()
Current Issues in Economics and Finance, 2009, vol. 15, issue Jul
The housing boom and bust of the last decade, often attributed to \\"bubbles\\" and credit market irregularities, may owe much to shifts in economic fundamentals. A resurgence in productivity that began in the mid-1990s contributed to a sense of optimism about future income that likely encouraged many consumers to pay high prices for housing. The optimism continued until 2007, when accumulating evidence of a slowdown in productivity helped dash expectations of further income growth and stifle the boom in residential real estate.>
Keywords: Productivity; Housing - Prices; Consumer behavior (search for similar items in EconPapers)
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