Preventing House Price Bubbles - Lessons form the 2006-2012 Bust
Download Document| Date Published | 2013 |
| Version | |
| Primary Author | James R. Follan and Seth H. Giertz |
| Other Authors | |
| Theme | Housing Market & Urban Indicators, Real Estate Cycles and Bubbles |
| Country |
Abstract
Accurately capturing local market conditions and identifying their roots remains a great challenge. A broader recognition of the importance of local market conditions would be a step in the right direction. We are in the midst of a data revolution that will ultimately enable us to measure house price trends at highly granular levels. Critical measures of the distressed real estate inventory have also become widely available. New information sources provide opportunities that make it more possible to address the variation in local market conditions. Using these data wisely, we can do better job of predicting and heading off future house price bubbles.