Preventing House Price Bubbles Lessons from the 2006-2012 Bust |
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| Author:
| Follain, James R.
Giertz, Seth H. |
| Series title: | Policy Focus Reports |
| ISBN: | 978-1-55844-285-6 |
| Publication Date: | Jul 2012 |
| Publisher: | Lincoln Institute of Land Policy
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| Book Format: | Paperback |
| List Price: | AUD $32.95 |
Book Description:
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The recent boom and bust in house prices generated widespread fallout, affecting metropolitan areas across the country. But the extent of the damage varied widely, suggesting that local market conditions also played an important role in determining how the crisis played out. As a result, national aggregates were an unreliable guide to both housing performance and the design of policies to mitigate the crisis. Based on their recent research for the Lincoln Institute,...
More DescriptionThe recent boom and bust in house prices generated widespread fallout, affecting metropolitan areas across the country. But the extent of the damage varied widely, suggesting that local market conditions also played an important role in determining how the crisis played out. As a result, national aggregates were an unreliable guide to both housing performance and the design of policies to mitigate the crisis.
Based on their recent research for the Lincoln Institute, James R. Follain and Seth H. Giertz document how econometric models can be used to address some of the complex issues that have arisen since the house price bust. In particular, these models provide valuable insights into the interrelationships between house price patterns and their drivers--including new drivers that changed the fundamental dynamics of housing markets, such as the size of the distressed real estate inventory, the pace of price appreciation, and the amount of subprime lending. nbsp;