As indicated in Figure 14.3, housing prices have risen substantially over the past few years. The composition
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As indicated in Figure 14.3, housing prices have risen substantially over the past few years. The composition of buyers (based on credit scores and median household incomes), however, is different from the composition of buyers in 2006. How does the composition of buyers affect the severity of a potential housing market bust?
Figure 14.3
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The composition of buyers can affect the severity of a housing market bust in several ways Creditworthiness If a large proportion of buyers have low c...View the full answer
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Related Book For
Principles Of Macroeconomics
ISBN: 9781292303826
13th Global Edition
Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster
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