NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Postmortem for a Housing Crash

Edward L. Glaeser, Todd Sinai

Chapter in NBER book Housing and the Financial Crisis (2013), Edward L. Glaeser and Todd Sinai, editors (p. 1 - 17)
Conference held November 17-18, 2011
Published in August 2013 by University of Chicago Press
© 2013 by the National Bureau of Economic Research

This chapter begins with a brief review of how America's housing market crash damaged received wisdom about housing markets and housing policy as well as the portfolios of households and financial institutions. This is followed by an overview of the subsequent chapters. It then discusses what actually happened to prices and construction during and after the housing boom; the causes of the boom and how changes in credit conditions play a dominant role in the search for causes; and the future of housing policy.

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This paper was revised on August 14, 2012

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