2000s United States housing bubble

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land values for 46 U.S. metro areas. One of the fastest-growing regions in the United States for the last several decades was the Atlanta, Georgia metro area, where land values are a small fraction of those in the high-priced markets. High land values contribute to high living costs in general and are part of the reason for the decline of the old industrial centers while new automobile plants, for example, were built throughout the South, which grew in population faster than the other regions.

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health. Besides health issues, the unstable housing market has also been shown to increase instances of violence. They subsequently begin to fear that their own homes may be taken from them. Increases in anxiety have at the very least been commonly noted. There is a fear that foreclosures bring about these reactions in people who anticipate the same thing happening to them. An uptick on violent occurrences has also been shown to follow neighborhoods where such uncertainty exists.

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slowing in the rate of price growth can be expected, but in many areas inventory shortages will persist and home prices are likely to continue to rise above historic norms". Following reports of rapid sales declines and price depreciation in August 2006, Lereah admitted that he expected "home prices to come down 5% nationally, more in some markets, less in others. And a few cities in Florida and California, where home prices soared to nose-bleed heights, could have 'hard landings'."

2253: 7360: 3171:' ... If houses get too expensive, people will stop buying them, which will cause people to adjust their spending habits ... Let the market function properly. I guarantee that your kind of question has been asked throughout the history of homebuilding – you know, prices for my homes are getting bid up so high that I'm afraid I'm not going to have any consumers – or my kid – and yet, things cycle. That's just the way it works. Economies should cycle.' 49: 1150: 7386: 7373: 1304: 2928:] around–often from folks close to real estate interests–to minimize the importance of this housing bust, it is worth to point out a number of flawed arguments and misperception that are being peddled around. You will hear many of these arguments over and over again in the financial pages of the media, in sell-side research reports and in innumerous [ 1386:

on mortgage payments fell from 2.2 to 1.9; homeowners who thought it was "very likely or somewhat likely" that they would fall behind on payments fell from 6% to 4.6% of families. On the other hand, family's financial liquidity has decreased: "As of 2009, 18.5% of families had no liquid assets, and by 2011 this had grown to 23.4% of families."

1571:" to inject U.S. $ 38 billion in temporary reserves into the system to help overcome the ill effects of a spreading credit crunch, on top of a similar move the previous day. In order to further ease the credit crunch in the U.S. credit market, at 8:15 a.m. on August 17, 2007, the chairman of the Federal Reserve Bank 1591:, held hearings in March 2007 in which he asked executives from the top five subprime mortgage companies to testify and explain their lending practices. Dodd said that "predatory lending practices" were endangering home ownership for millions of people. In addition, Democratic senators such as Senator 1529:

reported that it had made a quarterly loss of $ 677 million on discontinued operations, which included the subprime lender Option One, as well as writedowns, loss provisions for mortgage loans and the lower prices achievable for mortgages in the secondary market. The unit's net asset value had fallen

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Land prices contributed much more to the price increases than did structures. This can be seen in the building cost index in Fig. 1. An estimate of land value for a house can be derived by subtracting the replacement value of the structure, adjusted for depreciation, from the home price. Using this

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In early 2004, he urged homeowners to shift from fixed to floating rate mortgages, and in early 2005, he extolled the virtues of subprime borrowing—the extension of credit to unworthy borrowers. Far from the heartless central banker that is supposed to 'take the punchbowl away just when the party is

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report connects the hedge fund crisis with lax lending standards: "The crisis this week from the near collapse of two hedge funds managed by Bear Stearns stems directly from the slumping housing market and the fallout from loose lending practices that showered money on people with weak, or subprime,

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funds were auctioned on the open market, much weaker values would be plainly revealed. Schiff added, "This would force other hedge funds to similarly mark down the value of their holdings. Is it any wonder that Wall street is pulling out the stops to avoid such a catastrophe? ... Their true weakness

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However, housing bubbles did not manifest themselves in each of these areas at the same time. San Diego and Los Angeles had maintained consistently high appreciation rates since late 1990s, whereas the Las Vegas and Phoenix bubbles did not develop until 2003 and 2004 respectively. It was in the East

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Once a price history develops, and people hear that their neighbor made a lot of money on something, that impulse takes over, and we're seeing that in commodities and housing ... Orgies tend to be wildest toward the end. It's like being Cinderella at the ball. You know that at midnight everything's

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market in the 1970s, warned of the future impact of mortgage defaults: "This is the leading edge of the storm ... If you think this is bad, imagine what it's going to be like in the middle of the crisis." In his opinion, more than $ 100 billion of home loans were likely to default when the problems

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analyzed data from the Panel Study of Income Dynamics (PSID), which surveyed roughly 9,000 representative households in 2009 and 2011. The data seems to indicate that, while conditions are still difficult, in some ways the crisis is easing: Over the period studied, the percentage of families behind

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Basing their statements on historic U.S. housing valuation trends, in 2005 and 2006 many economists and business writers predicted market corrections ranging from a few percentage points to 50% or more from peak values in some markets, and although this cooling had not yet affected all areas of the

1111:, six (Dallas, Cleveland, Detroit, Denver, Atlanta, and Charlotte) saw less than 10% price growth in inflation-adjusted terms in 2001–2006. During the same period, seven metropolitan areas (Tampa, Miami, San Diego, Los Angeles, Las Vegas, Phoenix, and Washington, D.C.) appreciated by more than 80%. 1004:

Among other statements, the reports stated that people "should be concerned that home prices are rising faster than family income", that "there is virtually no risk of a national housing price bubble based on the fundamental demand for housing and predictable economic factors", and that "a general

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magazine stated, "The worldwide rise in house prices is the biggest bubble in history", so any explanation needs to consider its global causes as well as those specific to the United States. The then Federal Reserve Board Chairman Alan Greenspan said in mid-2005 that "at a minimum, there's a little

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The headline hints of catastrophe: a dot-com repeat, a bubble bursting, an economic apocalypse. Cassandra, though, can stop wailing: the expected price corrections mark a slowing in the rate of increase—not a precipitous decline. This will not spark a chain reaction that will devastate homeowners,

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of New York were already proposing a federal government bailout of subprime borrowers like the bailout made in the savings and loan crisis, in order to save homeowners from losing their residences. Opponents of such a proposal asserted that a government bailout of subprime borrowers was not in the

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People who either experienced foreclosures or live near foreclosures have a higher probability of falling ill or at the very least dealing with increased anxiety. Overall, it is reported that homeowners who are unable to afford living in their desired locations experience higher instances of poor

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Extreme regional differences in land prices. The differences in housing prices are mainly due to differences in land values, which reached 85% of the total value of houses in the highest priced markets at the peak. The Wisconsin Business School publishes an on line database with building cost and

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on June 14, 2007, on the linkage between increased foreclosures and localized housing price declines: "Living in an area with multiple foreclosures can result in a 10 percent to 20 percent decrease in property values". He went on to say, "In some cases that can wipe out the equity of homeowners or

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identified the housing bubble and foretold the difficulties it would cause: "Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage

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e can profit from the collapse of the credit bubble and the subsequent stock market divestment . However, real estate has not yet joined in a decline of prices fed by selling (and foreclosing). Unless you have a very specific reason to believe that real estate will outperform all other investments

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Former Federal Reserve Chairman Alan Greenspan had praised the rise of the subprime mortgage industry and the tools which it uses to assess credit-worthiness in an April 2005 speech. Because of these remarks, as well as his encouragement of the use of adjustable-rate mortgages, Greenspan has been

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plummeted in 2008 as investors worried that they lacked sufficient capital to cover the losses on their $ 5 (~$ 6.95 trillion in 2023) trillion portfolio of loans and loan guarantees. On June 16, 2010, it was announced that Fannie Mae and Freddie Mac would be delisted from the New York Stock

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to China. Analysts believed that with the downturn in the two sectors, the economy from the early 2000s to 2007 evaded what would have been stagnant growth with a booming housing market creating jobs, economic demand along with a consumer boom that came from home value withdraws until the housing

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The home-price bubble feels like the stock-market mania in the fall of 1999, just before the stock bubble burst in early 2000, with all the hype, herd investing and absolute confidence in the inevitability of continuing price appreciation. My blood ran slightly cold at a cocktail party the other

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These trends were reversed during the real estate market correction of 2006–2007. As of August 2007, D.R. Horton's and Pulte Corp's shares had fallen to 1/3 of their respective peak levels as new residential home sales fell. Some of the cities and regions that had experienced the fastest growth

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Once stocks fell, real estate became the primary outlet for the speculative frenzy that the stock market had unleashed. Where else could plungers apply their newly acquired trading talents? The materialistic display of the big house also has become a salve to bruised egos of disappointed stock

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magazine report on the US housing bubble states: "The great housing bubble has finally started to deflate ... In many once-sizzling markets around the country, accounts of dropping list prices have replaced tales of waiting lists for unbuilt condos and bidding wars over humdrum three-bedroom

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going to turn back to pumpkins and mice. But you look around and say, 'one more dance,' and so does everyone else. The party does get to be more fun—and besides, there are no clocks on the wall. And then suddenly the clock strikes 12, and everything turns back to pumpkins and mice.

1208:– grew considerably since the early 1990s. According to US Federal Reserve estimates, in 2005 homeowners extracted $ 750 billion of equity from their homes (up from $ 106 billion in 1996), spending two thirds of it on personal consumption, home improvements, and credit card debt. 1264:

rates. It was suggested that the weakness of the housing industry and the loss of the consumption that had been driven by the withdrawal of mortgage equity could lead to a recession, but as of mid-2007 the existence of this recession had not yet been ascertained. In March 2008,

623:—a mortgage debt higher than the value of the property. The underlying causes of the housing bubble are complex. Factors include tax policy (exemption of housing from capital gains), historically low interest rates, lax lending standards, failure of regulators to intervene, and 1478:." Many of these good-looking girls are not high-class assets worth 100 cents on the dollar ... he point is that there are hundreds of billions of dollars of this toxic waste ... This problem resides in America's heartland, with millions and millions of overpriced homes. 1134:, where weak local economies had produced little house price appreciation early in the decade but still saw declining values and increased foreclosures in 2007. As of January 2009 California, Michigan, Ohio and Florida were the states with the highest foreclosure rates. 1051:

held hearings and asked executives from the top five subprime mortgage companies to testify and explain their lending practices. Dodd said that "predatory lending" had endangered home ownership for millions of people. In addition, Democratic senators such as Senator

1567:(ECB) immediately stepped in to ease market worries by opening lines of €96.8 billion (U.S. $ 130 billion) of low-interest credit. One day after the financial panic about a credit crunch had swept through Europe, the U.S. Federal Reserve Bank conducted an " 852:

identified the bubble in August 2002, thereafter repeatedly warning of its nature and depth, and the political reasons it was being ignored. Prior to that, Robert Prechter wrote about it extensively as did Professor Shiller in his original publication of

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By July 2008, year-to-date prices had declined in 24 of 25 U.S. metropolitan areas, with California and the southwest experiencing the greatest price falls. According to the reports, only Milwaukee had seen an increase in house prices after July 2007.

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rate, which is the lending rate between banks and the Federal Reserve Bank, by 50 basis points to 5.75% from 6.25%. The Federal Reserve Bank stated that the recent turmoil in the U.S. financial markets had raised the risk of an economic downturn.

62:, 2nd ed. Shiller shows that inflation-adjusted U.S. home prices increased 0.4% per year from 1890 to 2004 and 0.7% per year from 1940 to 2004, whereas U.S. census data from 1940 to 2004 shows that the self-assessed value increased 2% per year. 681:'s warning that home prices appear overvalued and that the correction could last years, with trillions of dollars of home value being lost. Greenspan warned of "large double digit declines" in home values "larger than most people expect". 3982:

A significant decline in prices is coming. A huge buildup of inventories is taking place, and then we're going to see a major in hot markets in California, Arizona, Florida and up the East Coast. These markets could fall 50% from their

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Alan Greenspan, the United States's central banker, warned American homebuyers that they risk a crash if they continue to drive property prices higher ... On traditional tests, about a third of U.S. local homes markets are now markedly

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sold off assets seized from the funds and three other banks closed out their positions with them. The Bear Stearns funds once had over $ 20 billion of assets, but lost billions of dollars on securities backed by subprime mortgages.

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hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. Concerns about the impact of the collapsing housing and credit markets on the larger U.S. economy caused President

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One of the most direct effects was on the construction of new houses. In 2005, 1,283,000 new single-family houses were sold, compared with an average of 609,000 per year during 1990–1995. The largest home builders, such as

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In 2008 alone, the United States government allocated over $ 900 billion (~$ 1.25 trillion in 2023) to special loans and rescues related to the U.S. housing bubble. This was shared between the public sector and the

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held hearings on the housing bubble and related loan practices in 2006, titled "The Housing Bubble and its Implications for the Economy" and "Calculated Risk: Assessing Non-Traditional Mortgage Products". Following the

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warned, "The examples we have of past cycles indicate that major declines in real home prices—even 50 percent declines in some places—are entirely possible going forward from today or from the not-too-distant future."

8212: 1198:, improved operations significantly. D. R. Horton's stock went from $ 3 in early 1997 to all-time high of $ 42.82 on July 20, 2005. Pulte Corp's revenues grew from $ 2.33 billion in 1996 to $ 14.69 billion in 2005. 2118: 3836: 1103:

Despite greatly relaxed lending standards and low interest rates, many regions of the country saw very little price appreciation during the "bubble period". Out of 20 largest metropolitan areas tracked by the

897:, warning him that Freddie Mac was financing risk-laden loans that threatened Freddie Mac's financial stability. In his memo, Mr. Andrukonis wrote that these loans "would likely pose an enormous financial and 4137:

The examples we have of past cycles indicate that major declines in real home prices—even 50 per cent declines in some places—are entirely possible going forward from today or from the not-too-distant future.

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Economy.com predicted a "crash" of double-digit depreciation in some U.S. cities by 2007–2009. In a paper he presented to a Federal Reserve Board economic symposium in August 2007, Yale University economist

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rates (no verifying source), with more than 25 subprime lenders declaring bankruptcy, announcing significant losses, or putting themselves up for sale. The stock of the country's largest subprime lender,

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was fueled by the related refinancing boom, which allowed people to both reduce their monthly mortgage payments with lower interest rates and withdraw equity from their homes as their value increased.

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21% to $ 1.1 billion as of April 30, 2007. The head of the mortgage industry consulting firm Wakefield Co. warned, "This is going to be a meltdown of unparalleled proportions. Billions will be lost."

4639: 2980: 1450:, warned in June 2007 that the subprime mortgage crisis was not an isolated event and would eventually take a toll on the economy and ultimately have an impact in the form of impaired home prices. 4253: 7414: 4087: 3404: 642:

While bubbles may be identifiable in progress, bubbles can be definitively measured only in hindsight after a market correction, which began in 2005–2006 for the U.S. housing market. Former U.S.

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Prior to the real estate market correction of 2006–2007, the unprecedented increase in house prices starting in 1997 produced numerous wide-ranging effects in the economy of the United States.

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rates, even though they did not see much house appreciation in the first place and therefore did not appear to be contributing to the national bubble. This was also true of some cities in the

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getting good,' Alan Greenspan turned into an unabashed cheerleader for the excesses of an increasingly asset-dependent U.S. economy. I fear history will not judge the Maestro's legacy kindly.

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pledged up to U.S. $ 3.2 billion (~$ 4.53 billion in 2023) in loans on June 22, 2007, to bail out one of its hedge funds that was collapsing because of bad bets on subprime mortgages.

1048: 1031: 595:, they received a substantial share of government support, even though their mortgages were more conservatively underwritten and actually performed better than those of the private sector. 2947: 8345: 4400:"BNP Paribas Investment Partners temporally suspends the calculation of the Net Asset Value of the following funds: Parvest Dynamic ABS, BNP Paribas ABS EURIBOR and BNP Paribas ABS EONIA" 4165: 2239:

night when a recent Yale Medical School graduate told me that she was buying a condo to live in Boston during her year-long internship, so that she could flip it for a profit next year.

7714: 8796: 7706: 966:(JCHS) disputed the existence of a national housing bubble and expressed doubt that any significant decline in home prices was possible, citing consistently rising prices since the 947:"was a euphemism for a bubble". In early 2006, President Bush said of the U.S. housing boom: "If houses get too expensive, people will stop buying them ... Economies should cycle". 4441: 688:, to warn that a recovery in the housing sector was not expected to occur at least until 2009 because home prices were falling "almost like never before, with the exception of the 4229: 8490: 7809: 5779: 5433: 2617:

from July 2005 through March 2006. As of March 10, 2006, well over 14,000 (nearly half) of these for-sale homes were vacant. (Source: Arizona Regional Multiple Listing Service.)

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Rapidly growing house prices and increasing price gradients forced many residents to flee the expensive centers of many metropolitan areas, resulting in the explosive growth of

317: 8743: 8407: 4149: 3844: 1649:, that triggered the economic crisis of 2008. Concerning the subprime mortgage mess, Greenspan later admitted that "I really didn't get it until very late in 2005 and 2006." 1016:

data, sales were down 13% to 482,000 from the peak of 554,000 in March 2006, and the national median price fell nearly 6% to $ 217,000 from a peak of $ 230,200 in July 2006.

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It is widely believed that the increased degree of economic activity produced by the expanding housing bubble in 2001–2003 was partly responsible for averting a full-scale

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leave them owing more on their mortgage than the house is worth. The innocent houses that just happen to be sitting next to those properties are going to take a hit."

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Many contested any suggestion that there could be a housing bubble, particularly at its peak from 2004 to 2006, with some rejecting the "house bubble" label in 2008.

4133:"Two top US economists present scary scenarios for US economy; House prices in some areas may fall as much as 50% – Housing contraction threatens a broader recession" 870:

The burst of the housing bubble was predicted by a handful of political and economic analysts, such as Jeffery Robert Hunn in a March 3, 2003, editorial. Hunn wrote:

8524: 8446: 8391: 7549: 5741: 4968: 7665: 619:, and other economic indicators of affordability. This may be followed by decreases in home prices that result in many owners finding themselves in a position of 5824: 665:

was caused by the inability of a large number of home owners to pay their mortgages as their low introductory-rate mortgages reverted to regular interest rates.

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By mid-2016, the national housing price index was "about 1 percent shy of that 2006 bubble peak" in nominal terms but 20% below in inflation adjusted terms.

4478:"Remarks by Chairman Alan Greenspan, Consumer Finance At the Federal Reserve System's Fourth Annual Community Affairs Research Conference, Washington, D.C." 1925: 901:

to the company and the country". The article revealed that more than two-dozen high-ranking executives said that Mr. Syron had simply decided to ignore the

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methodology, Davis and Palumbo calculated land values for 46 U.S. metro areas, which can be found at the website for the Lincoln Institute for Land Policy.

8501: 8205: 8154: 8143: 5708: 3215: 2069: 982:(NAR), distributed "Anti-Bubble Reports" in August 2005 to "respond to the irresponsible bubble accusations made by your local media and local academics". 161: 3216:"Housing Bubble—or Bunk? Are home prices soaring unsustainably and due for plunge? A group of experts takes a look—and come to very different conclusions" 840:

During the run up in asset prices and before the Great Recession, various parties described the housing market as a bubble or contested that designation.

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Especially in late 2004 and early 2005, numerous economic and cultural factors led several economists to argue that a housing bubble existed in the U.S.

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U.S., some warned that it still could, and that the correction would be "nasty" and "severe". Chief economist Mark Zandi of the economic research firm

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Business Week has featured predictions by financial analysts that the subprime mortgage market meltdown would result in earnings reductions for large

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Housing bubbles may occur in local or global real estate markets. In their late stages, they are typically characterized by rapid increases in the

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values with the peak values immediately prior to the first month of decline all the way through the downturn and the full recovery of home prices.

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reported the largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is an important cause of the

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of New York were already proposing a federal government bailout of subprime borrowers in order to save homeowners from losing their residences.

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prices and increased foreclosure rates, some economists have concluded that the correction in the U.S. housing market began in 2006. A May 2006

8866: 8628: 8598: 8247: 7888: 7860: 5799: 5703: 5380: 5245: 963: 662: 655: 238: 156: 7658: 1895: 1645:, when the Commission sought to initiate the regulation of derivatives. Ultimately, it was the collapse of a specific kind of derivative, the 8289: 8020: 7953: 7832: 7344: 4000: 2863: 2580: 104: 8656: 8635: 8568: 8275: 8034: 7923: 7867: 6671: 5769: 5304: 5159: 713: 258: 17: 4451: 3305: 1995:

This is the biggest housing slump in the last four or five decades: every housing indicator is in free fall, including now housing prices.

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Somewhat paradoxically, as the housing bubble deflates some metropolitan areas (such as Denver and Atlanta) have been experiencing high

8621: 8163: 7434: 7299: 5849: 5395: 5319: 4854: 4239: 1065: 298: 3813: 943:'froth' (in the U.S. housing market) ... it's hard not to see that there are a lot of local bubbles"; Greenspan admitted in 2007 that 8711: 8575: 8198: 7630: 7493: 7472: 7459: 5764: 5736: 5663: 5575: 5405: 5033: 3051: 293: 278: 3140:"In come the waves: The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops" 493:. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. On December 30, 2008, the 8099: 7976: 7672: 6405: 5235: 5088: 1984: 1693: 114: 4666:

Adelino, Manuel; Schoar, Antoinette; Severino, Felipe (2018). "The Role of Housing and Mortgage Markets in the Financial Crisis".

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criticized for his role in the rise of the housing bubble and the subsequent problems in the mortgage industry that triggered the

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This soft-landing scenario is a fantasy ... Anything housing-related is going to feel like a recession, almost like a depression.

1294: 545: 1100:, but a number of local bubbles. In 2007, however, Greenspan stated that "all the froth bubbles add up to an aggregate bubble". 832: 8700: 8453: 8310: 7679: 7607: 7600: 7314: 5819: 5671: 5639: 5116: 1809: 747: 584: 3117: 1664:

at Northern Rock branches across the UK by concerned customers who took out "an estimated £2bn withdrawn in just three days".

8881: 8851: 8672: 8240: 7999: 7614: 7486: 7427: 7409: 6704: 5585: 5314: 5284: 5205: 4626: 2911:"Eight Market Spins About Housing by Perma-Bull Spin-Doctors ... And the Reality of the Coming Ugliest Housing Bust Ever ..." 1744: 1678: 580: 243: 3487: 3182: 8048: 7479: 7304: 5345: 5200: 5066: 4524: 2910: 2400:

magazine's cover story for the article "After the fall", which illustrates a brick falling, with the label "House Prices".

2012: 1638: 990:

On the basis of 2006 market data that were indicating a marked decline, including lower sales, rising inventories, falling

726: 498: 446: 400: 7637: 8856: 8462: 8261: 7939: 4525:"Who is to Blame for the Mortgage Carnage and Coming Financial Disaster? Unregulated Free Market Fundamentalism Zealotry" 3995: 3626: 1629:

titled, "What Went Wrong". In their investigation, the authors claim that Greenspan vehemently opposed any regulation of

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for several years, you may deem this prime time to liquidate investment property (for use in more lucrative markets).

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to announce a limited bailout of the U.S. housing market for homeowners who were unable to pay their mortgage debts.

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he American housing boom is now the mother of all bubbles—in sheer volume, if not in degrees of speculative madness.

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Problems for home owners with good credit surfaced in mid-2007, causing the United States' largest mortgage lender,

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for the housing corrections in the periods beginning in 2005 (red) and the 1980s–1990s (blue), comparing monthly

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The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops.

8759: 8642: 8476: 8439: 8361: 8268: 8177: 8092: 7284: 7264: 6729: 6359: 6242: 5834: 5726: 5608: 5485: 5220: 5215: 4836: 2077: 1459: 592: 521: 109: 4477: 4166:"Mortgage Distress and Financial Liquidity: How U.S. Families are Handling Savings, Mortgages and Other Debts" 4150:"Mortgage Distress and Financial Liquidity: How U.S. Families are Handling Savings, Mortgages and Other Debts" 4051:

he overall market value of housing has lost touch with economic reality. And there's a nasty correction ahead.

3449: 2355: 1833:"A Summary of the Primary Causes of the Housing Bubble and the Resulting Credit Crisis: A Non-Technical Paper" 1559:

announced that it could not fairly value the underlying assets in three funds because of its exposure to U.S.

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This article classified several U.S. real-estate regions as "Dead Zones", "Danger Zones", and "Safe Havens".

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A bubble had the potential to affect not only on home valuations, but also mortgage markets, home builders,

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National home sales and prices both fell dramatically in March 2007 — the steepest plunge since the 1989

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investors. These days, the only thing that comes close to real estate as a national obsession is poker.

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Economists have debated whether the early 2000s house price boom involved nationwide or local bubbles.

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Condominium Price Appreciation (percentages) in the south and west United States, 2002–2006. (Source:

3765: 1660:

for emergency funds because of liquidity problems related to the subprime crisis. This precipitated a

8722: 8561: 8430: 6848: 6745: 6697: 6661: 6096: 5885: 5505: 5415: 5083: 5056: 4811: 4796: 4768: 4754: 4726: 4712: 4314: 3726: 3658: 3139: 1443:

bankruptcy on April 2, 2007, with liabilities exceeding $ 100 million (~$ 142 million in 2023).

1330:

chief economist David Lereah's explanation, "What Happened", from the 2006 NAR Leadership Conference

811: 774: 412: 385: 4740: 4040: 3292:

builders and communities. Contradicting another gloomy seer, Chicken Little, the sky is not falling.

2013:"When mainstream analysts compare CDOs to 'subslime', 'toxic waste' and 'six-inch hooker heels' ..." 1905: 1115:

Coast, the more populated part of the country where the economic real estate turmoil was the worst.

8423: 8136: 6760: 6562: 6550: 6180: 6114: 5789: 5655: 5500: 5255: 5131: 5019: 1646: 1611: 1487: 1436: 1423: 1398: 1240: 1036: 902: 783: 756: 509: 490: 89: 4986: 2871: 8876: 8736: 7376: 7042: 6931: 6780: 6613: 6574: 6502: 6284: 6272: 6108: 5210: 5078: 4841: 4619:

The Great American Housing Bubble: What Went Wrong and How We Can Protect Ourselves in the Future

3976: 2370: 2036: 1620: 1471: 1168: 1009: 407: 207: 3194: 1623:. On October 15, 2008, Anthony Faiola, Ellen Nakashima and Jill Drew wrote a lengthy article in 1563:

mortgage lending markets. Faced with potentially massive (though unquantifiable) exposure, the

836:

The median and average sales prices of new homes sold in the United States between 1963 and 2010

8686: 8226: 7142: 7102: 6868: 6607: 6587: 6556: 6532: 6448: 6218: 6102: 5230: 3313: 2076:. Wisconsin School of Business & The Lincoln Institute of Land Policy. 2015. Archived from 1873: 1673: 1568: 1382: 1087: 1086:

As early as 2005, because of non-uniform price appreciation, some economists, including former

738: 494: 2425: 2305: 2227: 1403: 8354: 8115: 8108: 7203: 7183: 7157: 7147: 7107: 6975: 6936: 6838: 6795: 6785: 6770: 6750: 6631: 6619: 6526: 6308: 6230: 6132: 6126: 6017: 6006: 5978: 5953: 5580: 5527: 5480: 4782: 4480: 4293: 3788: 3364: 3069: 2165:

America was awash in a stark, raving frenzy that looked every bit as crazy as dot-com stocks.

1630: 1564: 1432: 1231:

almost doubled from 1,170,413 in 1990 to 2,026,803 in 2006, due to its relative proximity to

685: 643: 608: 4865: 4679: 3821: 2576:"Adjustable-rate loans come home to roost: Some squeezed as interest rises, home values sag" 1414:

Bank by customers queuing to withdraw savings in a panic related to the U.S. subprime crisis

718: 481:

was a sharp run up and subsequent collapse of house asset prices affecting over half of the

8013: 7990: 7983: 7419: 7364: 7117: 7047: 6910: 6853: 6775: 6765: 6755: 6690: 6302: 6236: 6168: 6120: 6078: 5603: 3185:, July 16, 2008, by "Economics of Contempt", lists 25 sources rejecting the "bubble" label. 2823: 2430: 2310: 2232: 1900: 1634: 1205: 124: 4351: 3048: 1953: 8: 7274: 7097: 7092: 6926: 6831: 6826: 6421: 6383: 6365: 6338: 6320: 6090: 6055: 5994: 5968: 5890: 5563: 5495: 4979: 4960: 2666: 2123: 2098: 1930: 1625: 1596:

best interests of the U.S. economy because it would simply set a bad precedent, create a

1273:'s National Activity Index for February sent a signal that a recession probably begun". 628: 94: 3675: 912:

warned of the risks posed by subprime mortgages. In September 2003, at a hearing of the

8649: 7946: 7846: 7324: 7198: 7152: 7132: 6965: 6946: 6888: 6863: 6389: 6377: 6332: 6290: 6186: 6174: 6033: 5963: 5859: 5844: 5545: 5521: 5179: 5152: 4945: 4816: 4419: 4356: 4045: 4025: 3389: 3246: 2454: 2159: 2103: 1958: 1159: 996: 894: 881: 820: 636: 486: 3591: 2934:] TV programs. So, be prepared to understand this misinformation, myths and spins. 2246:

Plot of inflation-adjusted home price appreciation in several U.S. cities, 1990–2005:

2051: 1545:

will finally reveal the abyss into which the housing market is about to plummet." The

40: 8384: 8006: 7839: 7228: 7037: 7020: 6980: 6905: 6895: 6873: 6858: 6637: 6266: 6213: 6192: 6156: 6138: 6044: 6000: 5814: 5590: 4924: 4920: 4648: 4622: 3761: 3693: 3340: 2952: 2256:

Plot of inflation-adjusted home price appreciation in several U.S. cities, 1990–2005.

1740: 1703: 1642: 1312: 1308: 1266: 1177: 1108: 898: 730: 701: 624: 513: 4974: 3971: 3088: 2212: 7248: 7223: 7122: 7064: 7025: 6985: 6481: 6476: 6453: 6248: 5958: 4916: 4875: 4675: 4634: 4494: 2609: 2471: 1637:. They further claim that Greenspan actively sought to undermine the office of the 1607: 1560: 1451: 1419: 1040: 967: 930: 886: 689: 670: 4556: 1075: 8414: 8219: 7112: 7059: 6597: 6459: 6427: 6349: 6224: 6150: 5932: 5731: 5539: 5042: 4886: 4583: 4520: 4320: 4092: 3409: 3166: 3055: 2722: 1761: 1688: 1657: 1592: 1576: 1495: 1053: 909: 863:

also called the bubble early on and was vocal about it on television and wrote a

674: 651: 620: 548:, called the bursting housing bubble "the most significant risk to our economy". 175: 74: 5624: 4528: 2917: 2016: 1454:, a "most reputable financial guru", sarcastically and ominously criticized the 1381:

To better understand how the mortgage crisis played out, a 2012 report from the

8589: 7339: 7319: 7279: 7218: 7000: 6970: 6666: 6514: 6491: 6415: 6371: 6326: 6314: 5454: 5400: 5184: 4502: 4473: 3608: 3569: 3434: 2894: 2781: 1779:"S&P CoreLogic Case-Shiller Home Price Indices - S&P Dow Jones Indices" 1547: 1507: 1374: 1244: 1105: 1093: 1020: 678: 647: 632: 576: 561: 350: 273: 195: 183: 56:'s plot of U.S. home prices, population, building costs, and bond yields, from 53: 3630: 3007: 2796: 2688: 1874:"In Washington, big business and big money are writing the rules on trade ..." 8845: 8517: 8057: 7802: 7404: 7137: 7069: 7054: 6883: 6651: 6072: 5875: 5169: 5164: 5147: 4832: 4801: 4787: 4773: 4759: 4745: 4731: 4717: 4703: 3344: 3220: 3144: 2407: 2396: 1760:

Chodorow-Reich, Gabriel; Guren, Adam M.; McQuade, Timothy J. (October 2022).

1698: 1653: 1519: 1503: 1499: 1411: 1096:, argued that United States was not experiencing a nationwide housing bubble 938: 926: 908:

Other cautions came as early as 2001, when the late Federal Reserve governor

792: 612: 541: 525: 360: 4879: 3609:"D.R. Horton, Inc. (DHI) Stock Historical Prices & Data - Yahoo Finance" 32: 8041: 7722: 7309: 7208: 7193: 7167: 6990: 6956: 6656: 6278: 5948: 5943: 4936: 4928: 4278: 4234: 3952: 3895: 3492: 3198: 3183:

The Unofficial List of Pundits/Experts Who Were Wrong on the Housing Bubble

2638:"Existing home sales drop 4.1% in July, median prices drop in most regions" 2277: 1597: 1572: 1541: 1537: 1531: 1526: 1515: 1491: 1187: 975: 860: 568: 537: 529: 1079:

Inflation-adjusted housing prices in the United States by state, 1998–2006

639:

of the United Kingdom, Hong Kong, Spain, Poland, Hungary and South Korea.

8331: 8303: 8254: 8170: 7334: 7188: 7010: 7005: 6878: 6713: 6438: 6027: 5988: 5533: 5174: 4897: 4644: 4640:

The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke

4384: 4258: 2599: 2329: 2252: 1989: 1762:"The 2000s Housing Cycle With 2020 Hindsight: A Neo-Kindlebergerian View" 1615:

seen in the subprime industry also emerge in the prime mortgage markets.

1603: 1556: 1483: 1475: 1427: 1281: 1261: 1236: 1119: 959: 890: 864: 666: 556: 552: 505: 345: 3328: 2390:

A prediction of a correction in the housing market, possibly after the "

7289: 7162: 4901: 4850: 3012: 2240: 1584: 1511: 1467: 1455: 1440: 1369: 1277: 1216: 1191: 1044: 849: 533: 482: 340: 3205:, by Alex Tabarrok, February 13, 2008 as rejecting the label "bubble". 3163:"President Highlights Importance of Small Business in Economic Growth" 929:

analyst too had warned in 2006 that companies could suffer from their

700:

was an important factor in the recovery, because a large component of

48: 4446: 3919: 3548: 3454: 2876:

No question about it, the housing downturn is here now, and it's big.

2844: 2642: 1540:, president of Euro Pacific Capital, argued that if the bonds in the 1232: 1212: 1131: 1123: 1028: 971: 697: 658:

in 2007, "I really didn't get it until very late in 2005 and 2006.".

335: 5901: 2797:"Median and Average Sales Prices of New Homes Sold in United States" 827: 8085: 7269: 7213: 7015: 6941: 6724: 5449: 4991: 4561: 4020: 2064: 2062: 2060: 1661: 1407: 917: 330: 8797:

Small Business Liability Relief and Brownfields Revitalization Act

5011: 1149: 4969:"America's Rental Housing: The Key to a Balanced National Policy" 4298: 3519: 3470:"S&P/Case-Shiller Home Price Indices-historical spreadsheets" 2758: 2614: 2190: 1896:"Housing woes take bigger toll on economy than expected: Paulson" 1552:

credit, leaving many of them struggling to stay in their homes."

1127: 922: 2981:"The Run-Up in Home Prices: Is it Real or Is it Another Bubble?" 2681: 2356:"From the subprime to the terrigenous: Recession begins at home" 2213:"Intended federal funds rate, Change and level, 1990 to present" 2110: 2057: 8491:

White House Office of Faith-Based and Neighborhood Partnerships

7074: 5434:

List of banks acquired or bankrupted during the Great Recession

3756: 3405:"Housing market may be on ice, but the blame market is red hot" 2391: 2052:

FACTBOX – U.S. government bailout tally tops 504 billion pounds

1926:"Housing Bubble Trouble: Have we been living beyond our means?" 1224: 1195: 991: 8744:

Committee on Climate Change Science and Technology Integration

6682: 4191:"We're in a new housing bubble: Why it's less scary this time" 2747: 2745: 893:, received a memo from David Andrukonis, the company's former 7030: 5780:

Acquired or bankrupt banks in the late 2000s financial crisis

5008:– CEPR regularly releases reports on the U.S. Housing Bubble. 2710: 2708: 2706: 2704: 1810:"Home prices off record 18% in past year, Case-Schiller says" 1447: 1303: 517: 7449: 5269: 4971:, Joint Center for Housing Studies, Harvard University, 2007 2386: 2384: 1600:, and worsen the speculation problem in the housing market. 615:

until unsustainable levels are reached relative to incomes,

6995: 2831: 2742: 1285:

Exchange; shares now trade on the over-the-counter market.

269:

Government intervention during the subprime mortgage crisis

3915:"US heading for house price crash, Greenspan tells buyers" 3752:"Chicago Fed index indicates recession has probably begun" 2701: 1759: 8525:

Economic Growth and Tax Relief Reconciliation Act of 2001

5775:

Dodd–Frank Wall Street Reform and Consumer Protection Act

5300:

Dodd–Frank Wall Street Reform and Consumer Protection Act

4125: 3049:

Why are my investments diving…and what can I do about it?

3033: 2999: 2983:. Center for Economic and Policy Research. Archived from 2930: 2924: 2381: 2205: 1019:

John A. Kilpatrick from Greenfield Advisors was cited by

365: 120:

Dodd–Frank Wall Street Reform and Consumer Protection Act

4113:"Moody's predicts big drop in Washington housing prices" 3789:"Woes at Loan Agencies and Oil-Price Spike Roil Markets" 3249:, Joint Center for Housing Studies. 2006. Archived from 1919: 1917: 1915: 4569: 4434: 4380:"Bear Stearns Hedge Fund Woes Stir Worry In CDO Market" 4254:"New Century Financial files for Chapter 11 bankruptcy" 4224: 4222: 3901:

There has never been a run up in home prices like this.

3814:"Fannie, Freddie Delisting Signals Firms Have No Value" 2821:

Hudson, Michael (May 2006). "The New Road to Serfdom".

1583:

In the wake of the mortgage industry meltdown, Senator

8694:

Tax Increase Prevention and Reconciliation Act of 2005

8447:

President's Council on Service and Civic Participation

8378:

Higher Education Relief Opportunities For Students Act

5411:

National fiscal policy response to the Great Recession

4902:"The baby boom, the baby bust, and the housing market" 4266: 2771: 2769: 2631: 2629: 2420: 2418: 2330:"DETECCIÓN DE BURBUJAS INMOBILIARIAS: EL CASO ESPAÑOL" 1392: 635:

of the 1990s. This bubble roughly coincides with the

284:

National fiscal policy response to the Great Recession

8532:

Jobs and Growth Tax Relief Reconciliation Act of 2003

4665: 4164:

Stafford, Frank; Chen, Bing; Schoeni, Robert (2012).

1912: 1474:, by the makeup, those six-inch hooker heels, and a " 8144:

Foreign Investment and National Security Act of 2007

4345: 4343: 4219: 3565:"Metro U.S. Home Prices Fall on Higher Foreclosures" 3450:"Greenspan: 'Local bubbles' build in housing sector" 2939: 2297: 2186:"Top five US subprime lenders asked to testify-Dodd" 1978: 1976: 585:

Federal Home Loan Mortgage Corporation (Freddie Mac)

162:

Government policies and the subprime mortgage crisis

7402: 5825:

Public–Private Investment Program for Legacy Assets

4953: 4686:

Glaeser, Edward L.; Nathanson, Charles G. (2015). "

4352:"$ 3.2 Billion Move by Bear Stearns to Rescue Fund" 4163: 3720:"Bureau of Economic Analysis GDP estimate, Q2 2007" 3376: 2766: 2626: 2443: 2441: 2415: 1215:in the U.S. economy following the dot-com bust and 5530:(Europe, Middle East and North Africa, Asia; 2009) 4576: 4549: 4545:. October 15, 2008 – via washingtonpost.com. 4413:Kanter, James; Werdigier, Julia (August 9, 2007). 4313: 4008: 3329:"Foreclosures, House Prices, and the Real Economy" 3327:Mian, Atif; Sufi, Amir; Trebbi, Francesco (2015). 3114:"Fannie Mae and Freddie Mac Subsidies Distort the" 2922:A lot of spin is being furiously spinned [ 2754:"Greenspan says didn't see subprime storm brewing" 2715: 2007: 2005: 2003: 1985:"Recession will be nasty and deep, economist says" 1868: 1866: 1864: 1247:, saw its population triple between 1990 and 2006. 581:Federal National Mortgage Association (Fannie Mae) 508:rates in 2006–2007 among U.S. homeowners led to a 5654: 4880:The Business Cycle: A Georgist-Austrian Synthesis 4340: 3694:"LOUDOUN COUNTY POPULATION: 2017 ESTIMATE SERIES" 3659:"Sources and Uses of Equity Extracted from Homes" 3592:"Number of Stories in New One-Family Houses Sold" 3515:"Home prices tumble as consumer confidence sinks" 3430:"U.S. Mortgages Enter Foreclosure at Record Pace" 3232: 3208: 2881: 2855: 2219: 1973: 1888: 1842:. The Journal of Business Inquiry. Archived from 828:Contemporary discussion of the housing price boom 673:concluded, "We had a bubble", and concurred with 44:Median cost to purchase a home by U.S. metro area 8843: 8297:National Security Entry-Exit Registration System 7715:Joint session of Congress (September 11 attacks) 5338: 4837:"Is the Party Really Over For the Housing Boom?" 4294:"Merrill sells off assets from Bear hedge funds" 4154:JournalistsResource.org, retrieved June 18, 2012 3488:"California cities fill top 10 foreclosure list" 2592: 2438: 692:". The impact of booming home valuations on the 264:Federal Reserve responses to the subprime crisis 152:Causes of the 2000s United States housing bubble 4519: 4412: 4350:Creswell, Julie; Bajaj, Vikas (June 23, 2007). 4171:. Institute for Social Research. Archived from 3397: 3070:"At Freddie Mac, Chief Discarded Warning Signs" 2948:"Risky Lending Trends could Bust Mortgage Boom" 2827:. Vol. 312, no. 1872. pp. 39–46. 2814: 2179: 2177: 2175: 2173: 2116: 2000: 1861: 1153:Housing starts in the United States, 1959–2021 8629:Job Creation and Worker Assistance Act of 2002 8599:Farm Security and Rural Investment Act of 2002 5800:Federal takeover of Fannie Mae and Freddie Mac 5381:American Recovery and Reinvestment Act of 2009 5246:Office of Federal Housing Enterprise Oversight 4472: 3725:(Press release). July 27, 2007. Archived from 3481: 3479: 3326: 3020: 2146: 2099:Tax Break May Have Helped Cause Housing Bubble 1446:The manager of the world's largest bond fund, 974:generation, and healthy levels of employment. 654:in housing", and also said in the wake of the 239:American Recovery and Reinvestment Act of 2009 157:Credit rating agencies and the subprime crisis 7435: 7345:List of housing markets by real estate prices 6698: 5917: 5640: 5027: 4831: 4493: 4349: 3837:"Real Estate Reality Check (Powerpoint talk)" 3029:"The Man Who Predicted The Economic Meltdown" 1947: 1945: 1439:investigations, before ultimately filing for 447: 105:2000s United States housing market correction 8657:Emergency Economic Stabilization Act of 2008 8636:Mortgage Forgiveness Debt Relief Act of 2007 8569:Energy Independence and Security Act of 2007 5770:Emergency Economic Stabilization Act of 2008 5305:Emergency Economic Stabilization Act of 2008 4935: 4617:Levitin, Adam J.; Wachter, Susan M. (2020). 3645:"Pulte Corp. 1996 Form 10-K – Annual report" 2902: 2659: 2655: 2653: 2353: 2170: 1954:"Lender Sees Mortgage Woes for 'Good' Risks" 1288: 714:Timeline of the United States housing bubble 259:Emergency Economic Stabilization Act of 2008 36:Median cost to purchase a home by U.S. state 8583:Financial Literacy and Education Commission 8206:Government response to September 11 attacks 8192:Emmett Till Unsolved Civil Rights Crime Act 5840:2009 Supervisory Capital Assessment Program 5810:Homeowners Affordability and Stability Plan 4891:American Journal of Economics and Sociology 4188: 4080: 4064:"Housing bubble correction could be severe" 3476: 3385:"Getting real about the real estate bubble" 2600:"Over 14,000 Phoenix For-Sale Homes Vacant" 2117:Evans-Pritchard, Ambrose (March 23, 2006). 1307:Comparison of the percentage change in the 970:, an anticipated increased demand from the 950: 289:Regulatory responses to the subprime crisis 8622:Food, Conservation, and Energy Act of 2008 8164:Adam Walsh Child Protection and Safety Act 7442: 7428: 7385: 6705: 6691: 5924: 5910: 5850:Term Asset-Backed Securities Loan Facility 5647: 5633: 5442: 5396:Fraud Enforcement and Recovery Act of 2009 5320:Term Asset-Backed Securities Loan Facility 5034: 5020: 4896: 4849: 3026: 2751: 2689:"Alan Greenspan Interview with Jim Lehrer" 2602:. The Housing Bubble Blog. March 10, 2006. 2369:Guide, Global Property (August 25, 2008). 2155:"Lowering the Boom? Speculators Gone Mild" 2015:RGE Monitor. June 27, 2007. Archived from 1942: 1923: 1260:during 2000–2005 began to experience high 1066:Causes of the United States housing bubble 867:detailing his predictions of the fallout. 843: 454: 440: 299:Term Asset-Backed Securities Loan Facility 8576:Fair and Accurate Credit Transactions Act 8199:Genetic Information Nondiscrimination Act 7833:Jordan–United States Free Trade Agreement 5765:Housing and Economic Recovery Act of 2008 5576:Effects of the Great Recession on museums 5406:Housing and Economic Recovery Act of 2008 5290:China–Japan–South Korea trilateral summit 4769:"The American economy: A phoney recovery" 4694:, Elsevier, vol. 5, pp. 701–751 3912: 3544:"Cleveland: Foreclosures weigh on market" 2972: 2650: 1043:mortgage industry in March 2007, Senator 294:Subprime mortgage crisis solutions debate 279:Housing and Economic Recovery Act of 2008 202:China–Japan–South Korea trilateral summit 7413:) is being considered for deletion. See 5270:Government policy and spending responses 5236:Government National Mortgage Association 4954:Robert J. Samuelson (October 11, 2006). 4692:Handbook of Regional and Urban Economics 4110: 4088:"Study sees '07 'crash' in some housing" 3864: 3786: 3485: 3267:Retsinas, Nicolas (September 26, 2006). 3266: 3240:"The State of the Nation's Housing 2006" 2861: 2608: 2265: 2251: 2152: 1694:Mortgage Electronic Registration Systems 1652:On September 13, 2007, the British bank 1402: 1302: 1148: 1074: 831: 717: 579:. Because of the large market share of 222:Government response and policy proposals 47: 39: 31: 8804:Water Resources Development Act of 2007 8541:Consumer Product Safety Improvement Act 7566:Dismissal of U.S. attorneys controversy 5881:Financial position of the United States 5330:2008 United Kingdom bank rescue package 5006:Center for Economic and Policy Research 4977:, Steven Gjerstad and Vernon L. Smith, 4862:Center for Economic and Policy Research 4809: 4680:10.1146/annurev-financial-110217-023036 4315:"H&R Block struck by subprime loss" 4135:. Finfacts Ireland. September 3, 2007. 4038: 2945: 2908: 2890:"Bloomberg Interview of Robert Shiller" 2887: 2752:Felsenthal, Mark (September 14, 2007). 2303: 2225: 2183: 2029: 2023: 1982: 1728: 1641:, specifically under the leadership of 1295:United States housing market correction 14: 8844: 8701:Tax Relief and Health Care Act of 2006 8311:Secondary Security Screening Selection 4591:from the original on December 11, 2022 4328:from the original on December 11, 2022 3834: 3787:Grynbaum, Michael M. (July 12, 2008). 3427: 3303: 3067: 3027:Folkenflik, David (December 4, 2008). 2946:Smalkin, Frederic N.C. (May 9, 2005). 2840:"Is economy headed to a soft landing?" 2837: 2820: 2730:from the original on December 11, 2022 2635: 2568: 2371:"The end of Poland's house price boom" 1355:First-time buyers priced out of market 8867:Economic history of the United States 8241:National Construction Safety Team Act 8000:Strategic Offensive Reductions Treaty 7423: 6686: 5931: 5905: 5628: 5315:Temporary Liquidity Guarantee Program 5285:Banking (Special Provisions) Act 2008 5268: 5206:Federal Deposit Insurance Corporation 5015: 4810:Fackler, Martin (December 25, 2005). 4442:"Next: The real estate market freeze" 4377: 4209:"American house prices: realty check" 3948:"Buffett: Real estate slowdown ahead" 3945: 3913:Searjeant, Graham (August 27, 2005). 3888: 3562: 3382: 3357: 3089:"Did Greenspan Add to Subprime Woes?" 3005: 2978: 2475:magazine Housing Bubble "Dead Zones" 2447: 2368: 2273:"Is A Housing Bubble About To Burst?" 1951: 1924:Laperriere, Andrew (April 10, 2006). 1724: 1722: 1720: 1718: 1679:2010 United States foreclosure crisis 1340:Affordability conditions deteriorated 244:Banking (Special Provisions) Act 2008 8774:Magnuson–Stevens Reauthorization Act 8673:Renovation, Repair and Painting Rule 8290:U.S. Department of Homeland Security 7372: 5201:Consumer Financial Protection Bureau 4909:Regional Science and Urban Economics 4668:Annual Review of Financial Economics 3806: 3541: 3413:. September 10, 2006. Archived from 2909:Roubini, Nouriel (August 26, 2006). 2717:"Greenspan alert on US house prices" 2524:Washington D.C. / Northern Virginia 2153:Levenson, Eugenia (March 15, 2006). 2030:Solomon, Deborah (August 31, 2007). 1983:Roubini, Nouriel (August 23, 2006). 1639:Commodity Futures Trading Commission 1337:Mortgage rates rose almost one point 1070: 627:. This bubble may be related to the 499:Great Recession in the United States 115:2008–2010 automotive industry crisis 8463:Prison Rape Elimination Act of 2003 7940:Darfur Peace and Accountability Act 5491:Collateralized mortgage obligations 5041: 4741:"Will the walls come falling down?" 4578:"Banks remain under fire in London" 2888:Shiller, Robert (August 20, 2006). 1824: 1807: 1393:Subprime mortgage industry collapse 1227:in some regions. The population of 985: 656:subprime mortgage and credit crisis 24: 8615:Flood Insurance Reform Act of 2004 8511:American Jobs Creation Act of 2004 7882:Dominican Republic–Central America 7330:Undergraduate real estate programs 4812:"Take It From Japan: Bubbles Hurt" 4606: 4557:"Northern Rock asks for Bank help" 4111:Clabaugh, Jeff (October 2, 2006). 3972:"Surviving a Real-Estate Slowdown" 3542:Knox, Noelle (November 21, 2006). 3428:Howley, Kathleen (June 14, 2007). 3086: 3068:Duhigg, Charles (August 5, 2008). 2662:"Existing-Home Sales Fall Steeply" 1904:. October 17, 2007. Archived from 1715: 1418:In March 2007, the United States' 1204:– primarily home equity loans and 914:House Financial Services Committee 468:2000s United States housing bubble 147:Causes of the European debt crisis 100:2000s United States housing bubble 25: 8893: 8185:Born-Alive Infants Protection Act 7417:to help reach a consensus. › 7128:Investment rating for real estate 5586:2007–2008 world food price crisis 5386:Chinese economic stimulus program 5371:2008 European Union stimulus plan 5295:Commercial Paper Funding Facility 4999: 4096:. October 5, 2006. Archived from 4039:Krugman, Paul (January 2, 2006). 3843:Leadership Summit. Archived from 3835:Lereah, David (August 17, 2006). 3563:Lynch, Sharon (October 2, 2008). 3486:Christie, Les (August 14, 2007). 2864:"New home sales continue to fall" 2862:Hamilton, Jim (August 25, 2006). 2636:Lereah, David (August 24, 2005). 2304:Shiller, Robert (June 20, 2005). 2226:Shiller, Robert (June 20, 2005). 2119:"No mercy now, no bail-out later" 1518:was imperiled in June 2007 after 1426:due to higher-than-expected home 1352:Trade-up buyers went to sidelines 249:Chinese economic stimulus program 229:2008 European Union stimulus plan 8392:Criticism of government response 8371:Higher Education Opportunity Act 8262:President's Surveillance Program 7384: 7371: 7359: 7358: 6051:1830s Chicago real estate bubble 6040:1810s Alabama real estate bubble 5614:List of countries by public debt 5241:National Asset Management Agency 4983:, April 6, 2009, includes charts 4637:and Amelia Warren Tyagi (2003). 4535: 4513: 4487: 4466: 4450:. March 12, 2007. Archived from 4415:"Big French Bank Suspends Funds" 4406: 4402:(Press release). August 9, 2007. 4392: 4371: 4306: 4286: 4024:. August 8, 2006. Archived from 3996:"Surviving Real Estate Slowdown" 3841:National Association of Realtors 3764:. March 24, 2008. Archived from 3627:"Pulte Corp. 2006 Annual Report" 3383:Tully, Shawn (August 25, 2005). 3310:National Association of Realtors 2184:Poirier, John (March 19, 2007). 2070:"Land Prices for 46 Metro Areas" 1830: 1343:Speculative investors pulled out 980:National Association of Realtors 978:, former chief economist of the 964:Joint Center for Housing Studies 925:reported in October 2007 that a 589:government-sponsored enterprises 8788:Renewable Identification Number 8606:Forest Land Enhancement Program 8548:Credit Rating Agency Reform Act 8470:Public Service Loan Forgiveness 8248:NIST WTC Disaster Investigation 6712: 5569:2008 Central Asia energy crisis 5486:Collateralized debt obligations 4855:"The Housing Bubble Fact Sheet" 4378:Wines, Leslie (June 21, 2007). 4246: 4238:. March 7, 2007. Archived from 4201: 4189:Diana Olick (August 29, 2016). 4182: 4157: 4142: 4104: 4072:. June 13, 2006. Archived from 4056: 4032: 3988: 3964: 3939: 3906: 3882: 3828: 3820:. June 16, 2010. Archived from 3780: 3744: 3712: 3686: 3668: 3651: 3637: 3619: 3601: 3584: 3556: 3535: 3507: 3462: 3442: 3421: 3351: 3320: 3297: 3260: 3224:. June 22, 2005. Archived from 3188: 3176: 3155: 3132: 3106: 3080: 3061: 3041: 2789: 2660:Nancy Trejos (April 24, 2007). 2362: 2347: 2322: 2281:. July 19, 2004. Archived from 2092: 2044: 1510:. The solvency of two troubled 1349:Resort buyers went to sidelines 1141: 566:Chairman of the Federal Reserve 8760:Diesel Emissions Reduction Act 8680:SAFE Transportation Equity Act 8643:Pension Protection Act of 2006 8477:Unborn Victims of Violence Act 8440:Partial-Birth Abortion Ban Act 8362:Election Assistance Commission 8269:Terrorist Surveillance Program 8178:Bipartisan Campaign Reform Act 7673:State funeral of Ronald Reagan 7285:Graduate real estate education 6730:Tertiary sector of the economy 6243:Western Australian gold rushes 5835:Primary Dealer Credit Facility 5704:Role of credit rating agencies 5664:Background / timeline 5376:2008–2009 Keynesian resurgence 5221:Federal Housing Finance Agency 5216:Federal Housing Administration 3676:"America's Unsustainable Boom" 3358:Baker, Dean (August 2, 2006). 3006:Baker, Dean (August 9, 2004). 2838:Leamer, Ed (August 23, 2006). 2615:houses for sale in Phoenix, AZ 2584:. June 2, 2014. Archived from 2032:"Bush Moves to Aid Homeowners" 1952:Bajaj, Vikas (July 25, 2007). 1801: 1771: 1753: 593:Federal Housing Administration 555:, home supply retail outlets, 546:U.S. Secretary of the Treasury 522:collateralized debt obligation 234:2008–2009 Keynesian resurgence 13: 1: 8664:Troubled Asset Relief Program 8555:Economic Stimulus Act of 2008 8283:Homeland Security Act of 2002 5855:Troubled Asset Relief Program 5760:Economic Stimulus Act of 2008 5656:U.S. subprime mortgage crisis 5391:Economic Stimulus Act of 2008 5325:Troubled Asset Relief Program 5251:Office of Financial Stability 5226:Federal Housing Finance Board 5160:Société Générale trading loss 4527:. RGE Monitor. Archived from 3889:Baker, Dean (July 27, 2004). 3360:"The Slow Motion Train Wreck" 3304:Lereah, David (August 2005). 2358:. Land Values Research Group. 2354:G.R. Putland (June 1, 2009). 1309:Case-Shiller Home Price Index 921:debt will also have a loss." 598: 495:Case–Shiller home price index 489:, it was the impetus for the 304:Troubled Asset Relief Program 254:Economic Stimulus Act of 2008 8882:Presidency of George W. Bush 8852:United States housing bubble 8325:Terrorist Screening Database 8276:NSA warrantless surveillance 8123:H-1B Visa Reform Act of 2004 7968:Vision for Space Exploration 7680:State funeral of Gerald Ford 7451:Presidency of George W. Bush 7410:Presidency of George W. Bush 7239:Real estate investment trust 6844:Extraterrestrial real estate 6672:U.S. higher education bubble 6583:Chinese stock bubble of 2007 6545:United States housing bubble 6539:2000s Danish property bubble 6521:Baltic states housing bubble 6297:Second Nova Scotia Gold Rush 5695:United States housing bubble 5310:Irish emergency budget, 2009 4975:"From Bubble to Depression?" 4956:"Home Is Where the Worry Is" 4921:10.1016/0166-0462(89)90005-7 4688:Chapter 11 - Housing Bubbles 4621:. Harvard University Press. 4069:U.S. News & World Report 3946:Zweig, Jason (May 8, 2006). 2694:The NewsHour with Jim Lehrer 2448:Tully, Shawn (May 5, 2006). 2426:"The No-Money-Down Disaster" 1486:investment banks trading in 1346:Homebuyer confidence plunged 1271:Chicago Federal Reserve Bank 1229:Riverside County, California 361:Royal Bank of Scotland Group 326:American International Group 18:United States housing bubble 7: 8346:FISA Amendments Act of 2008 8339:Protect America Act of 2007 8130:L-1 Visa Reform Act of 2004 7244:Real property administrator 7234:Real estate investment club 6509:Japanese asset price bubble 6497:New Zealand property bubble 6466:New Zealand property bubble 6395:Third Nova Scotia Gold Rush 6163:First Nova Scotia Gold Rush 4659: 4230:"The Mortgage Mess Spreads" 4118:Washington Business Journal 3274:Scripps Howard News Service 3203:Was there a Housing Bubble? 2979:Baker, Dean (August 2002). 1684:Financial crisis of 2007–08 1667: 1202:Mortgage equity withdrawals 707: 10: 8898: 8857:2000s in the United States 8767:Healthy Forests Initiative 8408:Medicare Modernization Act 8318:Terrorist Screening Center 8213:Rescue and recovery effort 8049:August 2001 daily briefing 7666:Presidential proclamations 6901:Private equity real estate 6626:Australian property bubble 6261:Tierra del Fuego gold rush 6145:Colorado River mining boom 6085:Queen Charlottes Gold Rush 5785:Capital Assistance Program 5727:2007–2008 financial crisis 5609:2007–2008 financial crisis 5501:Mortgage-backed securities 5112:Automotive industry crisis 4699:"Hear that hissing sound?" 2450:"Welcome to the Dead Zone" 1737:Princeton University Press 1612:mortgage-backed securities 1488:mortgage-backed securities 1396: 1292: 1220:market began a correction. 1063: 879:An August 2008 article in 711: 663:mortgage and credit crisis 540:markets. In October 2007, 110:2007–2008 financial crisis 8862:2000s in economic history 8813: 8723:Clean Boating Act of 2008 8710: 8562:Energy Policy Act of 2005 8500: 8431:Highly qualified teachers 8153: 7847:Trade promotion authority 7792: 7707:Joint session of Congress 7698: 7467: 7458: 7353: 7257: 7176: 7083: 6955: 6919: 6849:International real estate 6819: 6738: 6720: 6662:Social media stock bubble 6647: 6596: 6475: 6437: 6404: 6348: 6204:2nd Industrial Revolution 6202: 6097:New South Wales gold rush 6065: 6018:1st Industrial Revolution 6016: 5977: 5939: 5886:Foreclosure rescue scheme 5868: 5795:Federal Reserve responses 5750: 5742:Indirect economic effects 5717: 5699:housing market correction 5685: 5662: 5599: 5556: 5514: 5506:Secondary mortgage market 5471: 5427:rescues, and acquisitions 5425:Government interventions, 5424: 5416:Zero interest-rate policy 5363: 5275: 5264: 5193: 5140: 5127:Housing market correction 5104: 5049: 4987:"Mired in Disequilibrium" 4900:; Weil, David N. (1989). 3087:Ip, Greg (June 9, 2007). 2394:" of 2005, is implied by 1466:AAA? You were wooed, Mr. 1334:Boom ended in August 2005 1289:Housing market correction 1059: 885:eported that in mid-2004 8820:← Clinton administration 8424:No Child Left Behind Act 8137:Secure Fence Act of 2006 7594:Supreme Court candidates 7559:Legislation and programs 7415:templates for discussion 6563:Canadian property bubble 6551:Romanian property bubble 6390:1930s Kakamega gold rush 6181:Vermilion Lake gold rush 5790:Capital Purchase Program 5524:(United States; c. 2009) 5256:UK Financial Investments 5141:Banking losses and fraud 5132:Subprime mortgage crisis 5117:California budget crisis 4885:August 28, 2007, at the 4797:"Going through the roof" 4611: 3698:Loudoun County, Virginia 2527:San Francisco / Oakland 2127:. London. Archived from 1729:Shiller, Robert (2005). 1709: 1647:mortgage-backed security 1399:Subprime mortgage crisis 1241:Loudoun County, Virginia 951:Predictions of no bubble 491:subprime mortgage crisis 90:Subprime mortgage crisis 8781:Renewable Fuel Standard 8035:Pre-attack intelligence 7043:Real estate transaction 6932:Real estate development 6614:Lebanese housing bubble 6575:Lebanese housing bubble 6569:Chinese property bubble 6503:Spanish property bubble 6360:1920s Florida land boom 6285:Cripple Creek Gold Rush 6273:Witwatersrand Gold Rush 6214:1870s Lapland gold rush 6109:Fraser Canyon Gold Rush 5805:Government intervention 5542:(worldwide; 2011–2012) 5481:Auction rate securities 5211:Federal Home Loan Banks 4842:The Wall Street Journal 3977:The Wall Street Journal 3818:The Wall Street Journal 3054:April 21, 2011, at the 2306:"The Bubble's New Home" 2228:"The Bubble's New Home" 2037:The Wall Street Journal 1621:economic crisis of 2008 1169:Multifamily residential 1010:Savings and Loan crisis 958:The chief economist of 844:Predictions of a bubble 512:in August 2008 for the 69:Part of a series on the 8829:Obama administration → 8737:Clear Skies Initiative 7143:Real estate derivative 7103:Effective gross income 6869:Healthcare real estate 6608:2000s commodities boom 6588:Uranium bubble of 2007 6557:Polish property bubble 6533:2000s commodities boom 6449:1970s commodities boom 6219:Coromandel Gold Rushes 6103:Australian gold rushes 5672:Background information 5231:Federal Reserve System 5105:United States-specific 4893:56(4):521–41, October. 4587:. September 17, 2007. 4499:"The Great Unraveling" 3874: 3372:on September 28, 2007. 3333:The Journal of Finance 3008:"Bush's House of Card" 2920:on September 3, 2006. 2874:on September 1, 2006. 2726:. September 17, 2007. 2618: 2257: 1908:on September 18, 2010. 1674:2000s commodities boom 1480: 1458:of the mortgage-based 1415: 1383:University of Michigan 1316: 1181: 1080: 877: 837: 824: 190:G-20 Washington summit 63: 45: 37: 8751:Executive Order 13432 8730:Climate change policy 8355:Help America Vote Act 8116:Executive Order 13470 8109:Executive Order 13355 7587:Judicial appointments 7300:Industry trade groups 7204:Exclusive buyer agent 7158:Real estate valuation 7148:Real estate economics 7108:Gross rent multiplier 6937:Real estate investing 6839:Corporate Real Estate 6632:Cryptocurrency bubble 6620:Corporate debt bubble 6527:Irish property bubble 6309:Mount Baker gold rush 6231:Black Hills gold rush 6133:Similkameen Gold Rush 6127:Pennsylvania oil rush 6115:Pike's Peak gold rush 6007:Bengal Bubble of 1769 5979:Commercial revolution 5954:Irrational exuberance 5581:Decline of newspapers 5528:2009 May Day protests 5474:and financial markets 5364:Stimulus and recovery 4835:(February 10, 2006). 4565:. September 13, 2007. 4481:Federal Reserve Board 3891:"The bubble question" 3868: 3365:The American Prospect 3316:on November 26, 2005. 3306:"Anti-Bubble Reports" 2777:"Subprime shockwaves" 2697:. September 18, 2007. 2612: 2375:Global Property Guide 2255: 1732:Irrational Exuberance 1631:financial instruments 1575:decided to lower the 1569:open market operation 1565:European Central Bank 1464: 1462:now facing collapse: 1433:New Century Financial 1406: 1306: 1239:. On the East Coast, 1206:cash out refinancings 1152: 1078: 872: 856:Irrational Exuberance 835: 721: 686:Countrywide Financial 644:Federal Reserve Board 59:Irrational Exuberance 51: 43: 35: 8021:Communication issues 8014:September 11 attacks 7730:Mission Accomplished 7118:Highest and best use 7084:Economics, financing 7048:Real estate contract 6942:Real estate flipping 6911:Residential property 6854:Lease administration 6806:United Arab Emirates 6303:Kobuk River Stampede 6237:Colorado Silver Boom 6169:West Coast gold rush 6121:Rock Creek Gold Rush 6079:California gold rush 5891:Property derivatives 5830:Regulatory responses 5604:European debt crisis 5496:Credit default swaps 5472:Securities involved 5278:stability and reform 4871:on February 3, 2007. 4777:. February 26, 2004. 4755:"Still want to buy?" 4100:on January 14, 2009. 4041:"No bubble trouble?" 3850:on September 1, 2006 3417:on January 13, 2009. 3256:on October 13, 2006. 3169:. January 19, 2006. 3102:– via wsj.com. 1783:standardandpoors.com 1276:The share prices of 1178:2-4 unit residential 1106:S&P/Case-Shiller 962:and the director of 931:subprime investments 882:The New York Times r 696:since the 2001–2002 617:price-to-rent ratios 485:. In many regions a 125:European debt crisis 8872:Financial economics 8484:2006 VRA Amendments 7824:by Condoleezza Rice 7810:International trips 7645:Impeachment efforts 7098:Capitalization rate 7093:Asset-based lending 6927:Property management 6832:Commercial building 6827:Commercial property 6439:The Great Inflation 6422:Porcupine Gold Rush 6406:Post–WWII expansion 6384:Porcupine Gold Rush 6366:Fairbanks Gold Rush 6339:Porcupine Gold Rush 6321:Fairbanks Gold Rush 6091:Victorian gold rush 6056:Chilean silver rush 5969:Stock market bubble 5709:Government policies 5564:2000s energy crisis 5276:Banking and finance 5194:Government entities 4989:, Vernon L. Smith, 4980:Wall Street Journal 4961:The Washington Post 4941:"Housing Gets Ugly" 4939:(August 25, 2006). 4727:"In come the waves" 4707:. December 8, 2005. 4028:on August 22, 2006. 3682:. November 5, 2004. 3633:on August 19, 2007. 3523:. November 27, 2007 3093:Wall Street Journal 2960:on November 7, 2012 2667:The Washington Post 2476: 2124:The Daily Telegraph 2106:, December 18, 2008 1931:The Weekly Standard 1878:Bill Moyers Journal 1849:on October 17, 2014 1840:2009, 8, 1, 120-129 1626:The Washington Post 1555:On August 9, 2007, 1435:, plunged 84% amid 1269:reported that the " 637:real-estate bubbles 587:(both of which are 95:2000s energy crisis 8687:Sarbanes–Oxley Act 8650:Public Law 110-343 7947:Mexico City policy 7325:Real estate trends 7229:Real estate broker 7199:Chartered Surveyor 7153:Real estate bubble 7133:Mortgage insurance 6966:Adverse possession 6889:Luxury real estate 6864:Garden real estate 6378:Cobalt silver rush 6333:Cobalt silver rush 6291:Klondike Gold Rush 6187:Kildonan Gold Rush 6175:Big Bend Gold Rush 6034:Carolina gold rush 5995:Mississippi bubble 5964:Real-estate bubble 5860:Wall Street reform 5845:Tea Party protests 5546:Occupy Wall Street 5522:Tea Party protests 5180:Scott W. Rothstein 4995:, January 24, 2011 4946:The New York Times 4817:The New York Times 4523:(March 19, 2007). 4497:(March 16, 2007). 4454:on August 14, 2014 4420:The New York Times 4357:The New York Times 4242:on March 10, 2007. 4215:. August 24, 2016. 4046:The New York Times 3875: 3793:The New York Times 3281:on October 5, 2006 3269:"The housing wail" 3247:Harvard University 3074:The New York Times 2619: 2469: 2434:. August 21, 2006. 2258: 2104:The New York Times 1959:The New York Times 1587:, chairman of the 1437:Justice Department 1422:mortgage industry 1416: 1317: 1182: 1160:Single family home 1081: 1047:, Chairman of the 895:chief risk officer 859:in the year 2000. 838: 825: 487:real estate bubble 208:G-20 London Summit 64: 46: 38: 8839: 8838: 8385:Hurricane Katrina 8028:Military response 8007:USA Freedom Corps 7933:2002 steel tariff 7840:Trade Act of 2002 7788: 7787: 7779:2008 SOTU Address 7772:2007 SOTU Address 7765:2006 SOTU Address 7758:2005 SOTU Address 7751:2004 SOTU Address 7744:2003 SOTU Address 7737:2002 SOTU Address 7652:Executive actions 7573:Email controversy 7400: 7399: 7038:Property abstract 7021:Land registration 6981:Concurrent estate 6906:Real estate owned 6896:Off-plan property 6874:Vacation property 6859:Niche real estate 6680: 6679: 6638:Everything bubble 6287:(c. 1890–c. 1910) 6267:Cayoosh Gold Rush 6257:(c. 1880–c. 1930) 6245:(c. 1880–c. 1900) 6227:(c. 1870–c. 1890) 6225:Cassiar Gold Rush 6221:(c. 1870–c. 1890) 6193:Omineca Gold Rush 6157:Cariboo Gold Rush 6139:Stikine Gold Rush 6075:(c. 1840–c. 1850) 6045:Georgia Gold Rush 6030:(c. 1790–c. 1810) 5933:Financial bubbles 5899: 5898: 5820:Loan modification 5815:Hope Now Alliance 5622: 5621: 5591:Retail apocalypse 5536:(MENA; 2010–2012) 5467: 5466: 5463: 5462: 5359: 5358: 5339:Bank stress tests 4898:Mankiw, N.Gregory 4749:. April 20, 2005. 4628:978-0-674-24692-8 4543:"What Went Wrong" 4476:(April 4, 2005). 4324:. June 21, 2007. 3879: 3878: 3824:on June 21, 2010. 3762:Thomson Financial 3613:finance.yahoo.com 3228:on July 19, 2008. 3165:(Press release). 3148:. June 16, 2005. 2987:on April 23, 2009 2953:The Baltimore Sun 2623: 2622: 2565: 2564: 2262: 2261: 2074:Updated Quarterly 2050:Reuters. (2008). 2019:on June 29, 2007. 1938:on April 8, 2006. 1880:. June 29, 2007. 1812:. marketwatch.com 1746:978-0-691-12335-6 1704:Real estate trend 1643:Brooksley E. Born 1610:, creator of the 1589:Banking Committee 1365: 1364: 1361: 1360: 1267:Thomson Financial 1109:house price index 1071:Geographic Extent 1049:Banking Committee 1032:Banking Committee 899:reputational risk 702:consumer spending 625:speculative fever 591:) as well as the 464: 463: 318:Business failures 16:(Redirected from 8889: 8832: 8823: 8806: 8799: 8790: 8783: 8776: 8769: 8762: 8753: 8746: 8739: 8732: 8725: 8703: 8696: 8689: 8682: 8675: 8666: 8659: 8652: 8645: 8638: 8631: 8624: 8617: 8608: 8601: 8592: 8585: 8578: 8571: 8564: 8557: 8550: 8543: 8534: 8527: 8520: 8513: 8493: 8486: 8479: 8472: 8465: 8456: 8449: 8442: 8433: 8426: 8417: 8410: 8401: 8394: 8387: 8380: 8373: 8364: 8357: 8348: 8341: 8334: 8327: 8320: 8313: 8306: 8299: 8292: 8285: 8278: 8271: 8264: 8257: 8250: 8243: 8236: 8229: 8222: 8215: 8208: 8201: 8194: 8187: 8180: 8173: 8166: 8146: 8139: 8132: 8125: 8118: 8111: 8102: 8095: 8088: 8081: 8074: 8067: 8060: 8051: 8044: 8037: 8030: 8023: 8016: 8009: 8002: 7993: 7986: 7979: 7970: 7963: 7956: 7949: 7942: 7935: 7926: 7919: 7912: 7905: 7898: 7891: 7884: 7877: 7870: 7863: 7856: 7849: 7842: 7835: 7826: 7819: 7812: 7805: 7781: 7774: 7767: 7760: 7753: 7746: 7739: 7732: 7725: 7718: 7710: 7691: 7689:Obama transition 7682: 7675: 7668: 7661: 7659:Executive orders 7654: 7647: 7640: 7633: 7624: 7617: 7610: 7603: 7596: 7589: 7582: 7580:Shoeing incident 7575: 7568: 7561: 7552: 7545: 7538: 7531: 7524: 7517: 7510: 7503: 7496: 7489: 7487:2nd inauguration 7482: 7480:1st inauguration 7475: 7465: 7464: 7444: 7437: 7430: 7421: 7420: 7388: 7387: 7375: 7374: 7362: 7361: 7305:Investment firms 7224:Property manager 7123:Home equity loan 7026:Leasehold estate 6986:Conditional sale 6707: 6700: 6693: 6684: 6683: 6482:Great Regression 6477:Great Moderation 6454:Mexican oil boom 6249:Indiana gas boom 6001:South Sea bubble 5959:Social contagion 5926: 5919: 5912: 5903: 5902: 5649: 5642: 5635: 5626: 5625: 5515:Social responses 5440: 5439: 5336: 5335: 5266: 5265: 5036: 5029: 5022: 5013: 5012: 4965: 4950: 4932: 4906: 4876:Fred E. Foldvary 4872: 4870: 4864:. Archived from 4859: 4846: 4828: 4826: 4824: 4806: 4792: 4783:"House of cards" 4778: 4764: 4750: 4736: 4735:. June 16, 2005. 4722: 4721:. June 16, 2005. 4713:"After the fall" 4708: 4683: 4635:Elizabeth Warren 4601: 4600: 4598: 4596: 4580: 4573: 4567: 4566: 4553: 4547: 4546: 4539: 4533: 4532: 4531:on July 5, 2007. 4517: 4511: 4510: 4491: 4485: 4484: 4470: 4464: 4463: 4461: 4459: 4438: 4432: 4431: 4429: 4427: 4410: 4404: 4403: 4396: 4390: 4389: 4375: 4369: 4368: 4366: 4364: 4347: 4338: 4337: 4335: 4333: 4317: 4310: 4304: 4303: 4302:. June 21, 2007. 4290: 4284: 4283: 4282:. June 27, 2007. 4270: 4264: 4263: 4262:. April 2, 2007. 4250: 4244: 4243: 4226: 4217: 4216: 4205: 4199: 4198: 4186: 4180: 4179: 4178:on May 11, 2013. 4177: 4170: 4161: 4155: 4153: 4146: 4140: 4139: 4129: 4123: 4122: 4108: 4102: 4101: 4084: 4078: 4077: 4076:on July 4, 2007. 4060: 4054: 4053: 4036: 4030: 4029: 4012: 4006: 4005: 3992: 3986: 3985: 3980:. July 5, 2006. 3968: 3962: 3961: 3943: 3937: 3936: 3930: 3928: 3910: 3904: 3903: 3886: 3880: 3861: 3860: 3859: 3857: 3855: 3849: 3832: 3826: 3825: 3810: 3804: 3803: 3801: 3799: 3784: 3778: 3777: 3775: 3773: 3748: 3742: 3741: 3739: 3737: 3731: 3724: 3716: 3710: 3709: 3707: 3705: 3690: 3684: 3683: 3672: 3666: 3665: 3663: 3655: 3649: 3648: 3641: 3635: 3634: 3629:. Archived from 3623: 3617: 3616: 3605: 3599: 3598: 3596: 3588: 3582: 3581: 3579: 3577: 3560: 3554: 3553: 3539: 3533: 3532: 3530: 3528: 3511: 3505: 3504: 3502: 3500: 3483: 3474: 3473: 3466: 3460: 3459: 3446: 3440: 3439: 3425: 3419: 3418: 3401: 3395: 3394: 3380: 3374: 3373: 3368:. Archived from 3355: 3349: 3348: 3339:(6): 2587–2633. 3324: 3318: 3317: 3312:. Archived from 3301: 3295: 3294: 3288: 3286: 3277:. Archived from 3264: 3258: 3257: 3255: 3244: 3236: 3230: 3229: 3212: 3206: 3192: 3186: 3180: 3174: 3173: 3159: 3153: 3152: 3136: 3130: 3129: 3127: 3125: 3116:. Archived from 3110: 3104: 3103: 3101: 3099: 3084: 3078: 3077: 3065: 3059: 3047:Jeffrey Robert, 3045: 3039: 3038: 3024: 3018: 3017: 3003: 2997: 2996: 2994: 2992: 2976: 2970: 2969: 2967: 2965: 2956:. Archived from 2943: 2937: 2936: 2916:. Archived from 2906: 2900: 2899: 2885: 2879: 2878: 2870:. Archived from 2859: 2853: 2852: 2835: 2829: 2828: 2818: 2812: 2811: 2809: 2807: 2801: 2793: 2787: 2786: 2785:. July 19, 2007. 2773: 2764: 2763: 2749: 2740: 2739: 2737: 2735: 2719: 2712: 2699: 2698: 2685: 2679: 2678: 2676: 2674: 2657: 2648: 2647: 2633: 2624: 2605: 2604: 2603: 2596: 2590: 2589: 2588:on June 2, 2014. 2572: 2566: 2477: 2468: 2466: 2464: 2462: 2445: 2436: 2435: 2422: 2413: 2412: 2411:. June 16, 2005. 2403:"After the fall" 2388: 2379: 2378: 2366: 2360: 2359: 2351: 2345: 2344: 2342: 2340: 2326: 2320: 2319: 2301: 2295: 2294: 2292: 2290: 2285:on March 4, 2008 2269: 2263: 2248: 2247: 2245: 2223: 2217: 2216: 2209: 2203: 2202: 2200: 2198: 2181: 2168: 2167: 2150: 2144: 2143: 2138: 2136: 2131:on June 15, 2006 2114: 2108: 2096: 2090: 2089: 2087: 2085: 2066: 2055: 2048: 2042: 2041: 2027: 2021: 2020: 2009: 1998: 1997: 1980: 1971: 1970: 1968: 1966: 1949: 1940: 1939: 1934:. Archived from 1921: 1910: 1909: 1892: 1886: 1885: 1870: 1859: 1858: 1856: 1854: 1848: 1837: 1828: 1822: 1821: 1819: 1817: 1805: 1799: 1798: 1796: 1794: 1785:. Archived from 1775: 1769: 1768: 1766: 1757: 1751: 1750: 1726: 1608:Salomon Brothers 1323: 1322: 1299: 1298: 1245:Washington, D.C. 1175: 1166: 1157: 986:Price correction 968:Great Depression 887:Richard F. Syron 818: 809: 800: 790: 781: 772: 763: 754: 745: 736: 690:Great Depression 472:house price boom 456: 449: 442: 66: 65: 21: 8897: 8896: 8892: 8891: 8890: 8888: 8887: 8886: 8842: 8841: 8840: 8835: 8826: 8817: 8809: 8802: 8795: 8786: 8779: 8772: 8765: 8758: 8749: 8742: 8735: 8728: 8721: 8713: 8706: 8699: 8692: 8685: 8678: 8671: 8662: 8655: 8648: 8641: 8634: 8627: 8620: 8613: 8604: 8597: 8588: 8581: 8574: 8567: 8560: 8553: 8546: 8539: 8530: 8523: 8516: 8509: 8502:Economic policy 8496: 8489: 8482: 8475: 8468: 8461: 8452: 8445: 8438: 8429: 8422: 8415:Medicare Part D 8413: 8406: 8399:Disaster relief 8397: 8390: 8383: 8376: 8369: 8360: 8353: 8344: 8337: 8330: 8323: 8316: 8309: 8302: 8295: 8288: 8281: 8274: 8267: 8260: 8253: 8246: 8239: 8232: 8225: 8220:9/11 Commission 8218: 8211: 8204: 8197: 8190: 8183: 8176: 8169: 8162: 8155:Domestic policy 8149: 8142: 8135: 8128: 8121: 8114: 8107: 8098: 8091: 8084: 8077: 8072:Afghanistan War 8070: 8063: 8056: 8047: 8040: 8033: 8026: 8019: 8012: 8005: 7998: 7991:Slovakia summit 7989: 7984:Slovenia summit 7982: 7975: 7966: 7959: 7952: 7945: 7938: 7931: 7922: 7915: 7908: 7901: 7894: 7887: 7880: 7873: 7866: 7859: 7852: 7845: 7838: 7831: 7822: 7817:by Colin Powell 7815: 7808: 7801: 7784: 7777: 7770: 7763: 7756: 7749: 7742: 7735: 7728: 7721: 7713: 7705: 7694: 7687: 7678: 7671: 7664: 7657: 7650: 7643: 7636: 7629: 7620: 7613: 7606: 7599: 7592: 7585: 7578: 7571: 7564: 7557: 7548: 7541: 7534: 7527: 7520: 7513: 7506: 7499: 7492: 7485: 7478: 7471: 7454: 7448: 7418: 7401: 7396: 7349: 7253: 7172: 7113:Hard money loan 7085: 7079: 7060:Rent regulation 6951: 6915: 6815: 6734: 6716: 6711: 6681: 6676: 6643: 6600: 6598:Information Age 6592: 6484: 6480: 6471: 6460:Silver Thursday 6441: 6433: 6428:Poseidon bubble 6408: 6400: 6352: 6350:Interwar period 6344: 6206: 6198: 6151:Otago gold rush 6061: 6020: 6012: 5981: 5973: 5935: 5930: 5900: 5895: 5864: 5746: 5732:Great Recession 5713: 5681: 5677:Impact timeline 5658: 5653: 5623: 5618: 5595: 5552: 5540:Occupy movement 5510: 5473: 5459: 5438: 5426: 5420: 5355: 5334: 5277: 5271: 5260: 5189: 5136: 5100: 5045: 5043:Great Recession 5040: 5002: 4904: 4887:Wayback Machine 4868: 4857: 4822: 4820: 4805:. May 28, 2002. 4795: 4791:. May 29, 2003. 4781: 4767: 4753: 4739: 4725: 4711: 4697: 4662: 4629: 4614: 4609: 4607:Further reading 4604: 4594: 4592: 4584:Financial Times 4575: 4574: 4570: 4555: 4554: 4550: 4541: 4540: 4536: 4521:Nouriel Roubini 4518: 4514: 4492: 4488: 4471: 4467: 4457: 4455: 4440: 4439: 4435: 4425: 4423: 4411: 4407: 4398: 4397: 4393: 4376: 4372: 4362: 4360: 4348: 4341: 4331: 4329: 4321:Financial Times 4312: 4311: 4307: 4292: 4291: 4287: 4274:"PIMCO's Gross" 4272: 4271: 4267: 4252: 4251: 4247: 4228: 4227: 4220: 4207: 4206: 4202: 4187: 4183: 4175: 4168: 4162: 4158: 4148: 4147: 4143: 4131: 4130: 4126: 4109: 4105: 4093:Chicago Tribune 4086: 4085: 4081: 4062: 4061: 4057: 4037: 4033: 4014: 4013: 4009: 4004:. June 1, 2014. 3994: 3993: 3989: 3970: 3969: 3965: 3944: 3940: 3926: 3924: 3911: 3907: 3887: 3883: 3853: 3851: 3847: 3833: 3829: 3812: 3811: 3807: 3797: 3795: 3785: 3781: 3771: 3769: 3768:on May 14, 2008 3750: 3749: 3745: 3735: 3733: 3729: 3722: 3718: 3717: 3713: 3703: 3701: 3692: 3691: 3687: 3680:Mises Institute 3674: 3673: 3669: 3661: 3657: 3656: 3652: 3643: 3642: 3638: 3625: 3624: 3620: 3607: 3606: 3602: 3594: 3590: 3589: 3585: 3575: 3573: 3561: 3557: 3540: 3536: 3526: 3524: 3513: 3512: 3508: 3498: 3496: 3484: 3477: 3468: 3467: 3463: 3458:. May 20, 2005. 3448: 3447: 3443: 3426: 3422: 3410:Chicago Tribune 3403: 3402: 3398: 3381: 3377: 3356: 3352: 3325: 3321: 3302: 3298: 3284: 3282: 3265: 3261: 3253: 3242: 3238: 3237: 3233: 3214: 3213: 3209: 3193: 3189: 3181: 3177: 3167:The White House 3161: 3160: 3156: 3138: 3137: 3133: 3123: 3121: 3120:on May 21, 2012 3112: 3111: 3107: 3097: 3095: 3085: 3081: 3066: 3062: 3056:Wayback Machine 3046: 3042: 3025: 3021: 3004: 3000: 2990: 2988: 2977: 2973: 2963: 2961: 2944: 2940: 2907: 2903: 2886: 2882: 2860: 2856: 2836: 2832: 2819: 2815: 2805: 2803: 2799: 2795: 2794: 2790: 2775: 2774: 2767: 2750: 2743: 2733: 2731: 2723:Financial Times 2714: 2713: 2702: 2687: 2686: 2682: 2672: 2670: 2658: 2651: 2634: 2627: 2598: 2597: 2593: 2574: 2573: 2569: 2460: 2458: 2446: 2439: 2424: 2423: 2416: 2401: 2389: 2382: 2367: 2363: 2352: 2348: 2338: 2336: 2328: 2327: 2323: 2302: 2298: 2288: 2286: 2271: 2270: 2266: 2224: 2220: 2211: 2210: 2206: 2196: 2194: 2182: 2171: 2151: 2147: 2134: 2132: 2115: 2111: 2097: 2093: 2083: 2081: 2080:on July 1, 2010 2068: 2067: 2058: 2049: 2045: 2028: 2024: 2011: 2010: 2001: 1981: 1974: 1964: 1962: 1950: 1943: 1922: 1913: 1894: 1893: 1889: 1872: 1871: 1862: 1852: 1850: 1846: 1835: 1829: 1825: 1815: 1813: 1808:Mantell, Ruth. 1806: 1802: 1792: 1790: 1789:on May 22, 2013 1777: 1776: 1772: 1764: 1758: 1754: 1747: 1735:(2d ed.). 1727: 1716: 1712: 1689:Great Recession 1670: 1658:Bank of England 1656:applied to the 1593:Charles Schumer 1577:discount window 1496:Lehman Brothers 1401: 1395: 1297: 1291: 1180: 1173: 1171: 1164: 1162: 1155: 1144: 1073: 1068: 1062: 1054:Charles Schumer 1012:. According to 988: 953: 910:Edward Gramlich 846: 830: 823: 816: 814: 807: 805: 798: 796: 788: 786: 779: 777: 770: 768: 761: 759: 752: 750: 743: 741: 734: 727:personal income 716: 710: 650:said "We had a 621:negative equity 601: 460: 424: 423: 422: 380: 372: 371: 370: 356:Lehman Brothers 320: 310: 309: 308: 223: 215: 214: 213: 204:(December 2008) 198:(November 2008) 192:(November 2008) 178: 176:Summit meetings 168: 167: 166: 141: 131: 130: 129: 84: 75:Great Recession 28: 27:Economic bubble 23: 22: 15: 12: 11: 5: 8895: 8885: 8884: 8879: 8877:Interest rates 8874: 8869: 8864: 8859: 8854: 8837: 8836: 8834: 8833: 8824: 8814: 8811: 8810: 8808: 8807: 8800: 8793: 8792: 8791: 8777: 8770: 8763: 8756: 8755: 8754: 8747: 8740: 8726: 8718: 8716: 8708: 8707: 8705: 8704: 8697: 8690: 8683: 8676: 8669: 8668: 8667: 8660: 8646: 8639: 8632: 8625: 8618: 8611: 8610: 8609: 8595: 8594: 8593: 8590:Red Flags Rule 8586: 8572: 8565: 8558: 8551: 8544: 8537: 8536: 8535: 8528: 8514: 8506: 8504: 8498: 8497: 8495: 8494: 8487: 8480: 8473: 8466: 8459: 8458: 8457: 8443: 8436: 8435: 8434: 8420: 8419: 8418: 8404: 8403: 8402: 8395: 8381: 8374: 8367: 8366: 8365: 8351: 8350: 8349: 8342: 8335: 8328: 8321: 8314: 8307: 8300: 8293: 8286: 8279: 8272: 8265: 8258: 8251: 8244: 8237: 8230: 8223: 8216: 8202: 8195: 8188: 8181: 8174: 8167: 8159: 8157: 8151: 8150: 8148: 8147: 8140: 8133: 8126: 8119: 8112: 8105: 8104: 8103: 8100:2008 Iraq SOFA 8096: 8093:financial cost 8089: 8082: 8079:2002 Iraq AUMF 8075: 8068: 8054: 8053: 8052: 8045: 8038: 8031: 8024: 8010: 8003: 7996: 7995: 7994: 7987: 7977:Russia summits 7973: 7972: 7971: 7957: 7950: 7943: 7936: 7929: 7928: 7927: 7920: 7913: 7906: 7899: 7892: 7885: 7878: 7871: 7864: 7857: 7850: 7836: 7829: 7828: 7827: 7820: 7806: 7798: 7796: 7794:Foreign policy 7790: 7789: 7786: 7785: 7783: 7782: 7775: 7768: 7761: 7754: 7747: 7740: 7733: 7726: 7719: 7711: 7702: 7700: 7696: 7695: 7693: 7692: 7685: 7684: 7683: 7676: 7669: 7662: 7648: 7641: 7634: 7627: 7626: 7625: 7618: 7611: 7604: 7597: 7583: 7576: 7569: 7562: 7555: 7554: 7553: 7546: 7539: 7532: 7525: 7518: 7511: 7504: 7490: 7483: 7476: 7468: 7462: 7456: 7455: 7447: 7446: 7439: 7432: 7424: 7398: 7397: 7395: 7394: 7391:List of topics 7381: 7368: 7354: 7351: 7350: 7348: 7347: 7342: 7340:Urban planning 7337: 7332: 7327: 7322: 7320:Property cycle 7317: 7312: 7307: 7302: 7297: 7292: 7287: 7282: 7280:Gentrification 7277: 7272: 7267: 7261: 7259: 7255: 7254: 7252: 7251: 7246: 7241: 7236: 7231: 7226: 7221: 7219:Moving company 7216: 7211: 7206: 7201: 7196: 7191: 7186: 7180: 7178: 7174: 7173: 7171: 7170: 7165: 7160: 7155: 7150: 7145: 7140: 7135: 7130: 7125: 7120: 7115: 7110: 7105: 7100: 7095: 7089: 7087: 7081: 7080: 7078: 7077: 7072: 7067: 7062: 7057: 7052: 7051: 7050: 7040: 7035: 7034: 7033: 7023: 7018: 7013: 7008: 7003: 7001:Eminent domain 6998: 6993: 6988: 6983: 6978: 6973: 6971:Chain of title 6968: 6962: 6960: 6959:and regulation 6953: 6952: 6950: 6949: 6944: 6939: 6934: 6929: 6923: 6921: 6917: 6916: 6914: 6913: 6908: 6903: 6898: 6893: 6892: 6891: 6886: 6881: 6876: 6871: 6866: 6856: 6851: 6846: 6841: 6836: 6835: 6834: 6823: 6821: 6817: 6816: 6814: 6813: 6811:United Kingdom 6808: 6803: 6798: 6793: 6788: 6783: 6778: 6773: 6768: 6763: 6758: 6753: 6748: 6742: 6740: 6736: 6735: 6733: 6732: 6727: 6721: 6718: 6717: 6710: 6709: 6702: 6695: 6687: 6678: 6677: 6675: 6674: 6669: 6667:Unicorn bubble 6664: 6659: 6654: 6648: 6645: 6644: 6642: 6641: 6635: 6629: 6623: 6617: 6611: 6604: 6602: 6601:(2007–present) 6594: 6593: 6591: 6590: 6585: 6579: 6578: 6572: 6566: 6560: 6554: 6548: 6542: 6536: 6530: 6529:(c. 2000–2007) 6524: 6518: 6515:Dot-com bubble 6512: 6506: 6500: 6494: 6492:1980s oil glut 6488: 6486: 6473: 6472: 6470: 6469: 6468:(c. 1980–1982) 6463: 6457: 6451: 6445: 6443: 6435: 6434: 6432: 6431: 6425: 6424:(1945–c. 1960) 6419: 6418:(1945–c. 1950) 6416:Texas oil boom 6412: 6410: 6402: 6401: 6399: 6398: 6392: 6387: 6381: 6380:(1918–c. 1930) 6375: 6372:Texas oil boom 6369: 6368:(1918–c. 1930) 6363: 6362:(c. 1920–1925) 6356: 6354: 6346: 6345: 6343: 6342: 6336: 6330: 6327:Texas oil boom 6324: 6323:(c. 1900–1918) 6318: 6315:Nome Gold Rush 6312: 6311:(1897–c. 1925) 6306: 6300: 6294: 6288: 6282: 6276: 6270: 6264: 6258: 6252: 6251:(c. 1880–1903) 6246: 6240: 6234: 6228: 6222: 6216: 6210: 6208: 6200: 6199: 6197: 6196: 6190: 6184: 6178: 6172: 6166: 6160: 6154: 6148: 6142: 6136: 6130: 6124: 6118: 6112: 6106: 6100: 6094: 6093:(1851–c. 1870) 6088: 6082: 6076: 6069: 6067: 6063: 6062: 6060: 6059: 6053: 6048: 6047:(1828–c. 1840) 6042: 6037: 6031: 6024: 6022: 6014: 6013: 6011: 6010: 6004: 5998: 5992: 5985: 5983: 5975: 5974: 5972: 5971: 5966: 5961: 5956: 5951: 5946: 5940: 5937: 5936: 5929: 5928: 5921: 5914: 5906: 5897: 5896: 5894: 5893: 5888: 5883: 5878: 5876:Error accounts 5872: 5870: 5869:Related topics 5866: 5865: 5863: 5862: 5857: 5852: 5847: 5842: 5837: 5832: 5827: 5822: 5817: 5812: 5807: 5802: 5797: 5792: 5787: 5782: 5777: 5772: 5767: 5762: 5756: 5754: 5748: 5747: 5745: 5744: 5739: 5734: 5729: 5723: 5721: 5715: 5714: 5712: 5711: 5706: 5701: 5691: 5689: 5683: 5682: 5680: 5679: 5674: 5668: 5666: 5660: 5659: 5652: 5651: 5644: 5637: 5629: 5620: 5619: 5617: 5616: 5611: 5606: 5600: 5597: 5596: 5594: 5593: 5588: 5583: 5578: 5573: 5572: 5571: 5560: 5558: 5557:Related topics 5554: 5553: 5551: 5550: 5549: 5548: 5537: 5531: 5525: 5518: 5516: 5512: 5511: 5509: 5508: 5503: 5498: 5493: 5488: 5483: 5477: 5475: 5469: 5468: 5465: 5464: 5461: 5460: 5458: 5457: 5455:General Motors 5452: 5446: 5444: 5437: 5436: 5430: 5428: 5422: 5421: 5419: 5418: 5413: 5408: 5403: 5401:Green New Deal 5398: 5393: 5388: 5383: 5378: 5373: 5367: 5365: 5361: 5360: 5357: 5356: 5354: 5353: 5348: 5342: 5340: 5333: 5332: 5327: 5322: 5317: 5312: 5307: 5302: 5297: 5292: 5287: 5281: 5279: 5273: 5272: 5262: 5261: 5259: 5258: 5253: 5248: 5243: 5238: 5233: 5228: 5223: 5218: 5213: 5208: 5203: 5197: 5195: 5191: 5190: 5188: 5187: 5185:Allen Stanford 5182: 5177: 5172: 5167: 5162: 5157: 5156: 5155: 5144: 5142: 5138: 5137: 5135: 5134: 5129: 5124: 5122:Housing bubble 5119: 5114: 5108: 5106: 5102: 5101: 5099: 5098: 5093: 5092: 5091: 5081: 5076: 5075: 5074: 5069: 5059: 5053: 5051: 5047: 5046: 5039: 5038: 5031: 5024: 5016: 5010: 5009: 5001: 5000:External links 4998: 4997: 4996: 4984: 4972: 4966: 4951: 4933: 4915:(2): 235–258. 4894: 4873: 4847: 4829: 4807: 4793: 4779: 4765: 4763:. May 3, 2005. 4751: 4737: 4723: 4709: 4695: 4684: 4661: 4658: 4657: 4656: 4632: 4627: 4613: 4610: 4608: 4605: 4603: 4602: 4568: 4548: 4534: 4512: 4503:Morgan Stanley 4486: 4474:Alan Greenspan 4465: 4433: 4405: 4391: 4370: 4339: 4305: 4285: 4265: 4245: 4218: 4200: 4181: 4156: 4141: 4124: 4103: 4079: 4055: 4031: 4007: 3987: 3963: 3938: 3905: 3881: 3877: 3876: 3827: 3805: 3779: 3743: 3732:on May 2, 2017 3711: 3700:. October 2017 3685: 3667: 3650: 3636: 3618: 3600: 3583: 3555: 3534: 3506: 3475: 3461: 3441: 3435:Bloomberg News 3420: 3396: 3375: 3350: 3319: 3296: 3259: 3231: 3207: 3187: 3175: 3154: 3131: 3105: 3079: 3060: 3040: 3019: 2998: 2971: 2938: 2901: 2880: 2854: 2830: 2813: 2788: 2765: 2741: 2700: 2680: 2649: 2625: 2621: 2620: 2591: 2567: 2563: 2562: 2559: 2557: 2553: 2552: 2549: 2547: 2543: 2542: 2539: 2536: 2532: 2531: 2528: 2525: 2521: 2520: 2517: 2514: 2510: 2509: 2506: 2503: 2499: 2498: 2495: 2492: 2488: 2487: 2486:"Safe Havens" 2484: 2483:"Danger Zones" 2481: 2437: 2414: 2380: 2361: 2346: 2321: 2296: 2264: 2260: 2259: 2218: 2204: 2169: 2145: 2109: 2091: 2056: 2043: 2022: 1999: 1972: 1941: 1911: 1887: 1860: 1823: 1800: 1770: 1752: 1745: 1713: 1711: 1708: 1707: 1706: 1701: 1696: 1691: 1686: 1681: 1676: 1669: 1666: 1548:New York Times 1508:Morgan Stanley 1456:credit ratings 1410:on the U.K.'s 1397:Main article: 1394: 1391: 1375:Robert Shiller 1363: 1362: 1359: 1358: 1357: 1356: 1353: 1350: 1347: 1344: 1341: 1338: 1335: 1319: 1318: 1293:Main article: 1290: 1287: 1257: 1256: 1252: 1248: 1221: 1209: 1199: 1172: 1163: 1154: 1143: 1140: 1094:Alan Greenspan 1072: 1069: 1064:Main article: 1061: 1058: 1021:Bloomberg News 987: 984: 952: 949: 916:, Congressman 845: 842: 829: 826: 815: 806: 797: 787: 778: 769: 760: 751: 742: 733: 723:Housing prices 712:Main article: 709: 706: 679:Robert Shiller 648:Alan Greenspan 633:dot-com bubble 600: 597: 577:private sector 562:George W. Bush 462: 461: 459: 458: 451: 444: 436: 433: 432: 426: 425: 421: 420: 415: 410: 405: 404: 403: 398: 388: 382: 381: 378: 377: 374: 373: 369: 368: 363: 358: 353: 351:General Motors 348: 343: 338: 333: 328: 322: 321: 316: 315: 312: 311: 307: 306: 301: 296: 291: 286: 281: 276: 274:Green New Deal 271: 266: 261: 256: 251: 246: 241: 236: 231: 225: 224: 221: 220: 217: 216: 212: 211: 205: 199: 193: 187: 184:34th G8 summit 180: 179: 174: 173: 170: 169: 165: 164: 159: 154: 149: 143: 142: 137: 136: 133: 132: 128: 127: 122: 117: 112: 107: 102: 97: 92: 86: 85: 82: 81: 78: 77: 71: 70: 54:Robert Shiller 26: 9: 6: 4: 3: 2: 8894: 8883: 8880: 8878: 8875: 8873: 8870: 8868: 8865: 8863: 8860: 8858: 8855: 8853: 8850: 8849: 8847: 8831: 8830: 8825: 8822: 8821: 8816: 8815: 8812: 8805: 8801: 8798: 8794: 8789: 8785: 8784: 8782: 8778: 8775: 8771: 8768: 8764: 8761: 8757: 8752: 8748: 8745: 8741: 8738: 8734: 8733: 8731: 8727: 8724: 8720: 8719: 8717: 8715: 8712:Environmental 8709: 8702: 8698: 8695: 8691: 8688: 8684: 8681: 8677: 8674: 8670: 8665: 8661: 8658: 8654: 8653: 8651: 8647: 8644: 8640: 8637: 8633: 8630: 8626: 8623: 8619: 8616: 8612: 8607: 8603: 8602: 8600: 8596: 8591: 8587: 8584: 8580: 8579: 8577: 8573: 8570: 8566: 8563: 8559: 8556: 8552: 8549: 8545: 8542: 8538: 8533: 8529: 8526: 8522: 8521: 8519: 8518:Bush tax cuts 8515: 8512: 8508: 8507: 8505: 8503: 8499: 8492: 8488: 8485: 8481: 8478: 8474: 8471: 8467: 8464: 8460: 8455: 8451: 8450: 8448: 8444: 8441: 8437: 8432: 8428: 8427: 8425: 8421: 8416: 8412: 8411: 8409: 8405: 8400: 8396: 8393: 8389: 8388: 8386: 8382: 8379: 8375: 8372: 8368: 8363: 8359: 8358: 8356: 8352: 8347: 8343: 8340: 8336: 8333: 8329: 8326: 8322: 8319: 8315: 8312: 8308: 8305: 8301: 8298: 8294: 8291: 8287: 8284: 8280: 8277: 8273: 8270: 8266: 8263: 8259: 8256: 8252: 8249: 8245: 8242: 8238: 8235: 8231: 8228: 8224: 8221: 8217: 8214: 8210: 8209: 8207: 8203: 8200: 8196: 8193: 8189: 8186: 8182: 8179: 8175: 8172: 8168: 8165: 8161: 8160: 8158: 8156: 8152: 8145: 8141: 8138: 8134: 8131: 8127: 8124: 8120: 8117: 8113: 8110: 8106: 8101: 8097: 8094: 8090: 8087: 8083: 8080: 8076: 8073: 8069: 8066: 8062: 8061: 8059: 8058:War on terror 8055: 8050: 8046: 8043: 8039: 8036: 8032: 8029: 8025: 8022: 8018: 8017: 8015: 8011: 8008: 8004: 8001: 7997: 7992: 7988: 7985: 7981: 7980: 7978: 7974: 7969: 7965: 7964: 7962: 7958: 7955: 7951: 7948: 7944: 7941: 7937: 7934: 7930: 7925: 7921: 7918: 7914: 7911: 7907: 7904: 7900: 7897: 7893: 7890: 7886: 7883: 7879: 7876: 7872: 7869: 7865: 7862: 7858: 7855: 7851: 7848: 7844: 7843: 7841: 7837: 7834: 7830: 7825: 7821: 7818: 7814: 7813: 7811: 7807: 7804: 7803:Bush Doctrine 7800: 7799: 7797: 7795: 7791: 7780: 7776: 7773: 7769: 7766: 7762: 7759: 7755: 7752: 7748: 7745: 7741: 7738: 7734: 7731: 7727: 7724: 7720: 7716: 7712: 7708: 7704: 7703: 7701: 7697: 7690: 7686: 7681: 7677: 7674: 7670: 7667: 7663: 7660: 7656: 7655: 7653: 7649: 7646: 7642: 7639: 7635: 7632: 7628: 7623: 7622:controversies 7619: 7616: 7612: 7609: 7608:Harriet Miers 7605: 7602: 7598: 7595: 7591: 7590: 7588: 7584: 7581: 7577: 7574: 7570: 7567: 7563: 7560: 7556: 7551: 7547: 7544: 7540: 7537: 7533: 7530: 7526: 7523: 7519: 7516: 7512: 7509: 7505: 7502: 7498: 7497: 7495: 7491: 7488: 7484: 7481: 7477: 7474: 7470: 7469: 7466: 7463: 7461: 7457: 7452: 7445: 7440: 7438: 7433: 7431: 7426: 7425: 7422: 7416: 7412: 7411: 7406: 7393: 7392: 7382: 7380: 7379: 7369: 7367: 7366: 7356: 7355: 7352: 7346: 7343: 7341: 7338: 7336: 7333: 7331: 7328: 7326: 7323: 7321: 7318: 7316: 7313: 7311: 7308: 7306: 7303: 7301: 7298: 7296: 7293: 7291: 7288: 7286: 7283: 7281: 7278: 7276: 7273: 7271: 7268: 7266: 7263: 7262: 7260: 7256: 7250: 7247: 7245: 7242: 7240: 7237: 7235: 7232: 7230: 7227: 7225: 7222: 7220: 7217: 7215: 7212: 7210: 7207: 7205: 7202: 7200: 7197: 7195: 7192: 7190: 7187: 7185: 7182: 7181: 7179: 7175: 7169: 7166: 7164: 7161: 7159: 7156: 7154: 7151: 7149: 7146: 7144: 7141: 7139: 7138:Mortgage loan 7136: 7134: 7131: 7129: 7126: 7124: 7121: 7119: 7116: 7114: 7111: 7109: 7106: 7104: 7101: 7099: 7096: 7094: 7091: 7090: 7088: 7086:and valuation 7082: 7076: 7073: 7071: 7070:Torrens title 7068: 7066: 7063: 7061: 7058: 7056: 7055:Real property 7053: 7049: 7046: 7045: 7044: 7041: 7039: 7036: 7032: 7029: 7028: 7027: 7024: 7022: 7019: 7017: 7014: 7012: 7009: 7007: 7004: 7002: 6999: 6997: 6994: 6992: 6989: 6987: 6984: 6982: 6979: 6977: 6974: 6972: 6969: 6967: 6964: 6963: 6961: 6958: 6954: 6948: 6945: 6943: 6940: 6938: 6935: 6933: 6930: 6928: 6925: 6924: 6922: 6918: 6912: 6909: 6907: 6904: 6902: 6899: 6897: 6894: 6890: 6887: 6885: 6884:Golf property 6882: 6880: 6877: 6875: 6872: 6870: 6867: 6865: 6862: 6861: 6860: 6857: 6855: 6852: 6850: 6847: 6845: 6842: 6840: 6837: 6833: 6830: 6829: 6828: 6825: 6824: 6822: 6818: 6812: 6809: 6807: 6804: 6802: 6799: 6797: 6794: 6792: 6789: 6787: 6784: 6782: 6779: 6777: 6774: 6772: 6769: 6767: 6764: 6762: 6759: 6757: 6754: 6752: 6749: 6747: 6744: 6743: 6741: 6737: 6731: 6728: 6726: 6723: 6722: 6719: 6715: 6708: 6703: 6701: 6696: 6694: 6689: 6688: 6685: 6673: 6670: 6668: 6665: 6663: 6660: 6658: 6655: 6653: 6652:Carbon bubble 6650: 6649: 6646: 6639: 6636: 6633: 6630: 6627: 6624: 6621: 6618: 6615: 6612: 6609: 6606: 6605: 6603: 6599: 6595: 6589: 6586: 6584: 6581: 6580: 6576: 6573: 6570: 6567: 6564: 6561: 6558: 6555: 6552: 6549: 6546: 6543: 6540: 6537: 6534: 6531: 6528: 6525: 6522: 6519: 6516: 6513: 6510: 6507: 6504: 6501: 6498: 6495: 6493: 6490: 6489: 6487: 6483: 6478: 6474: 6467: 6464: 6461: 6458: 6455: 6452: 6450: 6447: 6446: 6444: 6440: 6436: 6429: 6426: 6423: 6420: 6417: 6414: 6413: 6411: 6407: 6403: 6396: 6393: 6391: 6388: 6385: 6382: 6379: 6376: 6373: 6370: 6367: 6364: 6361: 6358: 6357: 6355: 6351: 6347: 6340: 6337: 6334: 6331: 6328: 6325: 6322: 6319: 6316: 6313: 6310: 6307: 6304: 6301: 6298: 6295: 6292: 6289: 6286: 6283: 6280: 6277: 6274: 6271: 6268: 6265: 6262: 6259: 6256: 6255:Ohio oil rush 6253: 6250: 6247: 6244: 6241: 6238: 6235: 6232: 6229: 6226: 6223: 6220: 6217: 6215: 6212: 6211: 6209: 6205: 6201: 6194: 6191: 6188: 6185: 6182: 6179: 6176: 6173: 6170: 6167: 6164: 6161: 6158: 6155: 6152: 6149: 6146: 6143: 6140: 6137: 6134: 6131: 6128: 6125: 6122: 6119: 6116: 6113: 6110: 6107: 6104: 6101: 6098: 6095: 6092: 6089: 6086: 6083: 6080: 6077: 6074: 6073:Railway Mania 6071: 6070: 6068: 6064: 6057: 6054: 6052: 6049: 6046: 6043: 6041: 6038: 6035: 6032: 6029: 6026: 6025: 6023: 6019: 6015: 6008: 6005: 6002: 5999: 5996: 5993: 5990: 5987: 5986: 5984: 5980: 5976: 5970: 5967: 5965: 5962: 5960: 5957: 5955: 5952: 5950: 5947: 5945: 5942: 5941: 5938: 5934: 5927: 5922: 5920: 5915: 5913: 5908: 5907: 5904: 5892: 5889: 5887: 5884: 5882: 5879: 5877: 5874: 5873: 5871: 5867: 5861: 5858: 5856: 5853: 5851: 5848: 5846: 5843: 5841: 5838: 5836: 5833: 5831: 5828: 5826: 5823: 5821: 5818: 5816: 5813: 5811: 5808: 5806: 5803: 5801: 5798: 5796: 5793: 5791: 5788: 5786: 5783: 5781: 5778: 5776: 5773: 5771: 5768: 5766: 5763: 5761: 5758: 5757: 5755: 5753: 5749: 5743: 5740: 5738: 5735: 5733: 5730: 5728: 5725: 5724: 5722: 5720: 5716: 5710: 5707: 5705: 5702: 5700: 5696: 5693: 5692: 5690: 5688: 5684: 5678: 5675: 5673: 5670: 5669: 5667: 5665: 5661: 5657: 5650: 5645: 5643: 5638: 5636: 5631: 5630: 5627: 5615: 5612: 5610: 5607: 5605: 5602: 5601: 5598: 5592: 5589: 5587: 5584: 5582: 5579: 5577: 5574: 5570: 5567: 5566: 5565: 5562: 5561: 5559: 5555: 5547: 5544: 5543: 5541: 5538: 5535: 5532: 5529: 5526: 5523: 5520: 5519: 5517: 5513: 5507: 5504: 5502: 5499: 5497: 5494: 5492: 5489: 5487: 5484: 5482: 5479: 5478: 5476: 5470: 5456: 5453: 5451: 5448: 5447: 5445: 5441: 5435: 5432: 5431: 5429: 5423: 5417: 5414: 5412: 5409: 5407: 5404: 5402: 5399: 5397: 5394: 5392: 5389: 5387: 5384: 5382: 5379: 5377: 5374: 5372: 5369: 5368: 5366: 5362: 5352: 5349: 5347: 5344: 5343: 5341: 5337: 5331: 5328: 5326: 5323: 5321: 5318: 5316: 5313: 5311: 5308: 5306: 5303: 5301: 5298: 5296: 5293: 5291: 5288: 5286: 5283: 5282: 5280: 5274: 5267: 5263: 5257: 5254: 5252: 5249: 5247: 5244: 5242: 5239: 5237: 5234: 5232: 5229: 5227: 5224: 5222: 5219: 5217: 5214: 5212: 5209: 5207: 5204: 5202: 5199: 5198: 5196: 5192: 5186: 5183: 5181: 5178: 5176: 5173: 5171: 5170:Bernie Madoff 5168: 5166: 5165:Forex scandal 5163: 5161: 5158: 5154: 5151: 5150: 5149: 5148:Libor scandal 5146: 5145: 5143: 5139: 5133: 5130: 5128: 5125: 5123: 5120: 5118: 5115: 5113: 5110: 5109: 5107: 5103: 5097: 5094: 5090: 5087: 5086: 5085: 5082: 5080: 5077: 5073: 5072:South America 5070: 5068: 5067:United States 5065: 5064: 5063: 5060: 5058: 5055: 5054: 5052: 5048: 5044: 5037: 5032: 5030: 5025: 5023: 5018: 5017: 5014: 5007: 5004: 5003: 4994: 4993: 4988: 4985: 4982: 4981: 4976: 4973: 4970: 4967: 4963: 4962: 4957: 4952: 4948: 4947: 4942: 4938: 4934: 4930: 4926: 4922: 4918: 4914: 4910: 4903: 4899: 4895: 4892: 4888: 4884: 4881: 4877: 4874: 4867: 4863: 4856: 4853:(July 2005). 4852: 4848: 4844: 4843: 4838: 4834: 4833:June Fletcher 4830: 4819: 4818: 4813: 4808: 4804: 4803: 4802:The Economist 4798: 4794: 4790: 4789: 4788:The Economist 4784: 4780: 4776: 4775: 4774:The Economist 4770: 4766: 4762: 4761: 4760:The Economist 4756: 4752: 4748: 4747: 4746:The Economist 4742: 4738: 4734: 4733: 4732:The Economist 4728: 4724: 4720: 4719: 4718:The Economist 4714: 4710: 4706: 4705: 4704:The Economist 4700: 4696: 4693: 4689: 4685: 4681: 4677: 4673: 4669: 4664: 4663: 4654: 4653:0-465-09082-6 4650: 4646: 4642: 4641: 4636: 4633: 4630: 4624: 4620: 4616: 4615: 4595:September 26, 4590: 4586: 4585: 4579: 4572: 4564: 4563: 4558: 4552: 4544: 4538: 4530: 4526: 4522: 4516: 4509: 4504: 4500: 4496: 4495:Stephen Roach 4490: 4482: 4479: 4475: 4469: 4453: 4449: 4448: 4443: 4437: 4422: 4421: 4416: 4409: 4401: 4395: 4387: 4386: 4381: 4374: 4359: 4358: 4353: 4346: 4344: 4327: 4323: 4322: 4316: 4309: 4301: 4300: 4295: 4289: 4281: 4280: 4275: 4269: 4261: 4260: 4255: 4249: 4241: 4237: 4236: 4231: 4225: 4223: 4214: 4213:The Economist 4210: 4204: 4196: 4192: 4185: 4174: 4167: 4160: 4151: 4145: 4138: 4134: 4128: 4120: 4119: 4114: 4107: 4099: 4095: 4094: 4089: 4083: 4075: 4071: 4070: 4065: 4059: 4052: 4048: 4047: 4042: 4035: 4027: 4023: 4022: 4017: 4016:"Bubble Blog" 4011: 4003: 4002: 3997: 3991: 3984: 3979: 3978: 3973: 3967: 3960: 3955: 3954: 3949: 3942: 3935: 3922: 3921: 3916: 3909: 3902: 3898: 3897: 3892: 3885: 3872: 3867: 3863: 3862: 3846: 3842: 3838: 3831: 3823: 3819: 3815: 3809: 3794: 3790: 3783: 3767: 3763: 3759: 3758: 3753: 3747: 3728: 3721: 3715: 3699: 3695: 3689: 3681: 3677: 3671: 3660: 3654: 3646: 3640: 3632: 3628: 3622: 3614: 3610: 3604: 3593: 3587: 3572: 3571: 3566: 3559: 3551: 3550: 3545: 3538: 3522: 3521: 3516: 3510: 3495: 3494: 3489: 3482: 3480: 3471: 3465: 3457: 3456: 3451: 3445: 3437: 3436: 3431: 3424: 3416: 3412: 3411: 3406: 3400: 3392: 3391: 3386: 3379: 3371: 3367: 3366: 3361: 3354: 3346: 3342: 3338: 3334: 3330: 3323: 3315: 3311: 3307: 3300: 3293: 3280: 3276: 3275: 3270: 3263: 3252: 3248: 3241: 3235: 3227: 3223: 3222: 3221:Business Week 3217: 3211: 3204: 3200: 3196: 3195:Bubble Denial 3191: 3184: 3179: 3172: 3168: 3164: 3158: 3151: 3147: 3146: 3145:The Economist 3141: 3135: 3119: 3115: 3109: 3094: 3090: 3083: 3075: 3071: 3064: 3057: 3053: 3050: 3044: 3036: 3035: 3030: 3023: 3015: 3014: 3009: 3002: 2986: 2982: 2975: 2959: 2955: 2954: 2949: 2942: 2935: 2933: 2932: 2927: 2926: 2919: 2915: 2912: 2905: 2897: 2896: 2891: 2884: 2877: 2873: 2869: 2865: 2858: 2851: 2847: 2846: 2841: 2834: 2826: 2825: 2817: 2798: 2792: 2784: 2783: 2778: 2772: 2770: 2761: 2760: 2755: 2748: 2746: 2734:September 17, 2729: 2725: 2724: 2718: 2711: 2709: 2707: 2705: 2696: 2695: 2690: 2684: 2669: 2668: 2663: 2656: 2654: 2645: 2644: 2639: 2632: 2630: 2616: 2613:Inventory of 2611: 2607: 2606: 2601: 2595: 2587: 2583: 2582: 2577: 2571: 2560: 2558: 2555: 2554: 2550: 2548: 2545: 2544: 2540: 2537: 2534: 2533: 2529: 2526: 2523: 2522: 2518: 2515: 2512: 2511: 2507: 2504: 2501: 2500: 2496: 2493: 2490: 2489: 2485: 2482: 2479: 2478: 2474: 2473: 2457: 2456: 2451: 2444: 2442: 2433: 2432: 2427: 2421: 2419: 2410: 2409: 2408:The Economist 2404: 2399: 2398: 2397:The Economist 2393: 2387: 2385: 2376: 2372: 2365: 2357: 2350: 2335: 2331: 2325: 2318: 2313: 2312: 2307: 2300: 2284: 2280: 2279: 2274: 2268: 2254: 2250: 2249: 2244: 2242: 2235: 2234: 2229: 2222: 2214: 2208: 2193: 2192: 2187: 2180: 2178: 2176: 2174: 2166: 2162: 2161: 2156: 2149: 2142: 2130: 2126: 2125: 2120: 2113: 2107: 2105: 2100: 2095: 2079: 2075: 2071: 2065: 2063: 2061: 2053: 2047: 2039: 2038: 2033: 2026: 2018: 2014: 2008: 2006: 2004: 1996: 1992: 1991: 1986: 1979: 1977: 1961: 1960: 1955: 1948: 1946: 1937: 1933: 1932: 1927: 1920: 1918: 1916: 1907: 1903: 1902: 1897: 1891: 1883: 1879: 1875: 1869: 1867: 1865: 1845: 1841: 1834: 1827: 1811: 1804: 1788: 1784: 1780: 1774: 1763: 1756: 1748: 1742: 1738: 1734: 1733: 1725: 1723: 1721: 1719: 1714: 1705: 1702: 1700: 1699:Synthetic CDO 1697: 1695: 1692: 1690: 1687: 1685: 1682: 1680: 1677: 1675: 1672: 1671: 1665: 1663: 1659: 1655: 1654:Northern Rock 1650: 1648: 1644: 1640: 1636: 1632: 1628: 1627: 1622: 1616: 1613: 1609: 1605: 1601: 1599: 1594: 1590: 1586: 1581: 1578: 1574: 1570: 1566: 1562: 1558: 1553: 1550: 1549: 1543: 1539: 1535: 1533: 1528: 1527:H&R Block 1524: 1521: 1520:Merrill Lynch 1517: 1513: 1509: 1505: 1504:Merrill Lynch 1501: 1500:Goldman Sachs 1497: 1493: 1490:, especially 1489: 1485: 1479: 1477: 1473: 1469: 1463: 1461: 1457: 1453: 1449: 1444: 1442: 1438: 1434: 1429: 1425: 1421: 1413: 1412:Northern Rock 1409: 1405: 1400: 1390: 1387: 1384: 1379: 1376: 1371: 1354: 1351: 1348: 1345: 1342: 1339: 1336: 1333: 1332: 1331: 1329: 1325: 1324: 1321: 1320: 1314: 1310: 1305: 1301: 1300: 1296: 1286: 1283: 1279: 1274: 1272: 1268: 1263: 1253: 1249: 1246: 1242: 1238: 1234: 1230: 1226: 1222: 1218: 1214: 1210: 1207: 1203: 1200: 1197: 1193: 1189: 1184: 1183: 1179: 1170: 1161: 1151: 1147: 1139: 1135: 1133: 1129: 1125: 1121: 1116: 1112: 1110: 1107: 1101: 1099: 1095: 1092: 1089: 1084: 1077: 1067: 1057: 1055: 1050: 1046: 1042: 1038: 1033: 1030: 1025: 1022: 1017: 1015: 1011: 1006: 1002: 999: 998: 993: 983: 981: 977: 973: 969: 965: 961: 956: 948: 946: 941: 940: 934: 932: 928: 927:Merrill Lynch 924: 919: 915: 911: 906: 904: 900: 896: 892: 889:, the CEO of 888: 884: 883: 876: 871: 868: 866: 862: 858: 857: 851: 841: 834: 822: 813: 804: 794: 793:United States 785: 776: 767: 758: 749: 740: 732: 728: 724: 720: 715: 705: 703: 699: 695: 691: 687: 682: 680: 676: 672: 671:Richard Syron 668: 664: 659: 657: 653: 649: 645: 640: 638: 634: 630: 626: 622: 618: 614: 613:real property 610: 605: 596: 594: 590: 586: 582: 578: 572: 570: 567: 563: 558: 554: 549: 547: 543: 542:Henry Paulson 539: 535: 531: 527: 523: 519: 515: 511: 507: 502: 500: 496: 492: 488: 484: 480: 479:housing cycle 477: 473: 469: 457: 452: 450: 445: 443: 438: 437: 435: 434: 431: 428: 427: 419: 416: 414: 411: 409: 406: 402: 401:United States 399: 397: 396:South America 394: 393: 392: 389: 387: 384: 383: 376: 375: 367: 364: 362: 359: 357: 354: 352: 349: 347: 344: 342: 339: 337: 334: 332: 329: 327: 324: 323: 319: 314: 313: 305: 302: 300: 297: 295: 292: 290: 287: 285: 282: 280: 277: 275: 272: 270: 267: 265: 262: 260: 257: 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Retrieved 4815: 4800: 4786: 4772: 4758: 4744: 4730: 4716: 4702: 4691: 4671: 4667: 4643:, New York: 4638: 4618: 4593:. Retrieved 4582: 4571: 4560: 4551: 4537: 4529:the original 4515: 4506: 4489: 4468: 4456:. Retrieved 4452:the original 4445: 4436: 4424:. Retrieved 4418: 4408: 4394: 4383: 4373: 4361:. Retrieved 4355: 4330:. Retrieved 4319: 4308: 4297: 4288: 4279:CNNMoney.com 4277: 4268: 4257: 4248: 4240:the original 4235:BusinessWeek 4233: 4212: 4203: 4194: 4184: 4173:the original 4159: 4144: 4136: 4127: 4116: 4106: 4098:the original 4091: 4082: 4074:the original 4067: 4058: 4050: 4044: 4034: 4026:the original 4019: 4010: 3999: 3990: 3981: 3975: 3966: 3957: 3953:CNNMoney.com 3951: 3941: 3932: 3925:. Retrieved 3918: 3908: 3900: 3896:CNNMoney.com 3894: 3884: 3852:. Retrieved 3848:(Powerpoint) 3845:the original 3830: 3822:the original 3817: 3808: 3796:. Retrieved 3792: 3782: 3770:. Retrieved 3766:the original 3755: 3746: 3734:. Retrieved 3727:the original 3714: 3702:. 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