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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Wyätt Gwyön who wrote (2071)	3/15/2004 1:49:46 PM
From: mishedlo	Read Replies (2) of 116555

Homeownership in a Bubble: The Fast Path to Poverty? By Dean Baker and Simone Baribeau August 13, 2003 Excerpt: While homeownership may be indeed be desirable in normal times, it is not clear that encouraging moderate income families to buy homes at present is a good strategy. There is good reason to believe that the nation is experiencing a housing bubble very similar to the stock bubble of the late nineties. Nationwide, the rise in home prices has exceeded the overall rate of inflation by more than 30 percentage points since 1995. This sort of run-up in home prices has no precedent in the post-war period. No economist has been able to put forward a plausible explanation for such a sudden run-up in home prices, apart from a speculative bubble. The Link: cepr.net

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