In 2007 the real estate market was in a bubble. Prices were high, speculation was rampant (remember the story from the movie the Big Short about exotic dancers using cash to make down payments on multiple homes with almost no credit) and the government was enacting new rules about 'affordable' housing.
Here we are, 17 years later, and prices are higher than ever. BUT...we are not in a bubble.
The question is why?
Read on to understand why government policies combined with the reality that we all need somewhere to live have created an environment where housing prices may continue to rise...from these already lofty levels.
Thanks to Brian Wesbury and our partners at First Trust Advisors LP.
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