The US Housing Bubble, Credit Crisis, Crash and Recovery 2006 to 2015

William T Ziemba

Chapter 24 in The Adventures of a Modern Renaissance Academic in Investing and Gambling, 2017, pp 271-273 from World Scientific Publishing Co. Pte. Ltd.

Abstract: President George W Bush pushed the case that all Americans should own their own homes. A low interest rate policy of Fed Chair Alan Greenspan fueled a bond rally with the rates declining from the mid-1990s through to the 2005/2006 peak in real estate prices. Real estate in the US overall has had its ups and downs since the 1700s. However, since the 1940s, the overall US real estate has increased dramatically and the latter part was up each year. The real estate rise in the period up to 2005 was very large and made people feel that the only direction for future real estate prices was up. Many were burned in the 2000–2002 stock market decline so went to a new asset class namely real estate…

Keywords: Financial History; Risk Management; Investment Strategies; Mean Reversion; Risk Arbitrage; Management of Assets (search for similar items in EconPapers)
JEL-codes: G11 (search for similar items in EconPapers)
Date: 2017
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