« Rates Up, Homebuilding Up? | Main | Krugman on China »
May 17, 2005
Yet More On The Housing Bubble
People keep talking about a bubble, yet housing prices in California set new records again last month.
Essentially, buyers are able to bid up housing prices relative to income because of low interest rates, speculative expectations of future asset appreciation and a little irrational exuberance, too. See Brad DeLong on this, too.
|
Related Products: |
Read more from this blogger: |
Posted on May 17, 2005 05:21 AM by House 78.
Filed in Real Estate under housing prices.
Permalink 
| Comments (0)
Share |
