The Run-Up in Home Prices: Is it Real or Is it Another Bubble?
Publication Date: August 2002
Publisher: Center for Economic and Policy Research
Author(s): Dean Baker
Research Area: Social conditions
Keywords: Home equity; Homeownership; Vacancy rate
Type: Report
Coverage: United States
Abstract:
This paper examines whether the increase in home prices can be grounded in fundamental economic factors or whether it is simply a bubble, similar to the stock market bubble. It concludes that there is a housing bubble. While this process can sustain rising prices for a period of time, it must eventually come to an end.
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