Postmortem for a Housing Crash
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.
Sinai's research is supported in part by the Research Scholars Program of the Zell-Lurie Real Estate Center at Wharton. Glaeser's research is supported by the Taubman Center for State and Local Government.
Edward L. Glaeser
I have received speaking fees from organizations that organize members that invest in real estate markets, including the National Association of Real Estate Investment Managers and the Pension Real Estate Association.