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Smart money or dumb money: investors' role in the housing bubble

Author

Listed:
  • Wenli Li

Abstract

To explain the historic housing boom and bust, most analysis has identified easy credit in the form of low interest rates, subprime mortgages, and relaxed qualifications for borrowers. But as Wenli Li explains, recent research suggests an additional factor: real estate speculation.

Suggested Citation

  • Wenli Li, 2015. "Smart money or dumb money: investors' role in the housing bubble," Business Review, Federal Reserve Bank of Philadelphia, issue Q1, pages 21-26.
    • Handle: RePEc:fip:fedpbr:00019
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    Cited by:

    1. Ronel Elul & Sebastian Tilson, 2015. "Owner occupancy fraud and mortgage performance," Working Papers 15-45, Federal Reserve Bank of Philadelphia.

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    Keywords

    Housing bubble; Real estate speculation;

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