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The Bursting of the US House Price Bubble
A July 2008 French analysis of the steep decline in U.S. home values starting in the summer of 2007. Includes data and graphs, discussion of how the "bubble was caused by easier lending conditions" and other factors, and how the return to equilibrium could continue until the end of 2009. Opens directly into a PDF document. From the French government.
http://www.dgtpe.minefi.gouv.fr/TRESOR_ECO/anglais/pdf/2008-014-40en.pdf
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