Financial Crisis Post-Mortem: Interest Rates Rather than Housing Bubble Drove Mortgage Crisis
investigativeeconomics.substack.com
The common narrative of the mortgage crisis is that real estate prices in the U.S. were an overvalued bubble destined to pop. Home price indexes were at their unsustainable peak in 2005-2006 and everybody always assumed prices would continue to rise until they finally didn't.
Financial Crisis Post-Mortem: Interest Rates Rather than Housing Bubble Drove Mortgage Crisis
Financial Crisis Post-Mortem: Interest Rates…
Financial Crisis Post-Mortem: Interest Rates Rather than Housing Bubble Drove Mortgage Crisis
The common narrative of the mortgage crisis is that real estate prices in the U.S. were an overvalued bubble destined to pop. Home price indexes were at their unsustainable peak in 2005-2006 and everybody always assumed prices would continue to rise until they finally didn't.