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As banks began to give out more loans to potential home owners, housing prices began to rise. Lax lending standards and rising real estate prices also contributed to the real estate bubble. Loans of various types (e.g., mortgage, credit card, and auto) were easy to obtain and consumers assumed an unprecedented debt load. [253] [222] [254]
These regulations had the net effect of reducing housing construction and reducing the ability of regional housing stock to adjust to changing market conditions. Beginning in the last quarter of the 20th century, market-wide housing shortages have existed in a growing number of markets throughout the country, starting in prosperous coastal ...
One 2017 NBER study argued that real estate investors (i.e., those owning 2+ homes) were more to blame for the crisis than subprime borrowers: "The rise in mortgage defaults during the crisis was concentrated in the middle of the credit score distribution, and mostly attributable to real estate investors" and that "credit growth between 2001 ...
Goldman is back with a 16-years-later look at the housing market crash of 2008—and finds affordability is even worse right now. Sydney Lake. October 11, 2023 at 6:00 PM.
Top economist who called the 2008 housing crash pours cold water on soft landing, pointing to rate hikes and a softening labor market. Paolo Confino. March 5, 2024 at 2:26 PM.
“The sharpest declines for the US housing market are now behind us,” read a Goldman Sachs team research note. ... Economist Who Predicted the 2008 Housing Crash Says Home Prices Will Drop 15% ...
Dow Jones Industrial Average Jan 2006 - Nov 2008. Beginning with bankruptcy of Lehman Brothers at midnight Monday, September 15, 2008, the financial crisis entered an acute phase marked by failures of prominent American and European banks and efforts by the American and European governments to rescue distressed financial institutions, in the United States by passage of the Emergency Economic ...
"I think the biggest bubble right now is commercial real estate,” Gary Shilling, an economist best known for correctly forecasting the 2008 housing crash, said on investing podcast The Julia La ...