Journal Article

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

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.

Keywords: Housing bubble; Real estate speculation;


Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Business Review

Publication Date: 2015

Issue: Q1

Pages: 21-26