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The Menace of an Unchecked Housing Bubble
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March 16, 2006
An unprecedented run-up in the stock market propelled the U.S. economy in the late nineties and now an unprecedented run-up in house prices is propelling the current recovery. According to Dean Baker, like the stock bubble, the housing bubble will burst. Eventually, it must. When it does, the economy will be thrown into a severe recession, and tens of millions of homeowners, who never imagined that house prices could fall, likely will face serious hardships.
Published Online: 2006-3-16
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Articles in the same Issue
- Column
- The Menace of an Unchecked Housing Bubble
- Was Welfare Reform Successful?
- The Many Definitions of Social Security Privatization
- Long-Term Perspectives on the Current Boom in Home Prices
- Letter
- Letter: Has Becker Put Economics in the Electric Chair?
- Letter: Transfer Payments vs. Economic Costs in the Iraq War
- Letter: The Costs to the Iraqi People May Become Costs to the United States
- Letter: Must Homeowners Lose Wealth When House Prices Fall?
