Facts About The Us Housing Bubble
The US housing bubble is part of the overall economic bubble in the United States
. The housing bubble will have an effect on not only house prices but also other areas. There are many should be taken into account when looking at the US housing bubble.
Knowing what a housing bubble is would be the first thing to know. If a country has a real estate market then there will be a housing bubble present. When the price of houses steadily increases until the economy cannot sustain it is what a housing bubble is. Spain, Hong Kong and the United Kingdom all experienced housing bubbles at the same time as the US.
The identification of a housing bubble is thought to only be possible in hindsight. The American housing bubble is thought to have been spotted as long ago as 2004. There were many articles written by various people identifying the bubble and some of the reasons for it. Due to the fact that the bubble coincided with bubbles in other countries many people believed that it would have to be viewed in a global sense and not only in the United States.
The fact that there was a housing bubble was not being admitted by a number of high powered people in America. Influential people in the financial world did receive warnings from various people about the dangers involved in over extending themselves. The fact that many companies were going to eventually suffer from this was predicted by analysts in 2006.
The housing bubble did have a number of side effects. One of the side effects was the increase in building of new houses. As the market was up more people built houses to sell at high rates. The price of houses made many people leave the high priced areas in many metropolitan areas. This saw populations in commuter towns rapidly increase.
There is no way that any housing or economic bubble will be able to continue forever. The American housing bubble is the same. The first signs of trouble came with the mortgage industry struggling after the increase in the number of foreclosures in 2007. Of course we now know that this was just the beginning of a slump that was much bigger than the American housing market.
There are many aspects of a countries economics and the US housing bubble is just one of them. The popping of the housing bubble was inevitable even with the people who didn't want to recognize it being there.
by: Johnny Hurt
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