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August 02, 2021 | Report
The swell in home prices does not suggest that the United States is reliving the 2005-07 housing bubble and burst that led to the 2008-09 Great Recession. Basic supply and demand factors—not speculation, predatory lending and/or bad underwriting practices—are at the root of the latest home price upswing. Moreover, a series of mortgage-market safeguards should prevent a hard landing when home prices recede.
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