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Publication Date:
Publisher: Center for Economic and Policy Research
Author(s): Dean Baker
Research Area: Economics
Keywords: Housing market; Recession; Home ownership
Type: Report
Coverage: United States
Abstract:
This paper examines the factors that have led to the recent instability in financial markets, specifically the housing bubble and the recent run-up in stock prices. Prices in both the housing market and the stock market are often moved by psychological factors that have little to do with fundamentals.