Interesting paper by an MIT professor and RE Consultant.
They did a bunch of modelling from 1975 to the present to see if they could explain the current housing price environment.
In their view, the two drivers that explain it are 1) subprime lending adding buyers to the pool, driving up % of ownership and 2) 2nd homes purchased as investments
Good read
Past Housing "Cycles" and the Current Housing "Boom": What's Different This Time?
In their view, the two drivers that explain it are 1) subprime lending adding buyers to the pool, driving up % of ownership and 2) 2nd homes purchased as investments
Good read
Past Housing "Cycles" and the Current Housing "Boom": What's Different This Time?