Chaos and Complexity Economics (with J. Doyne Farmer)
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Unpacking the Housing Bubble: Price Dynamics and Lending Policies
This chapter delves into the intricate behavior of the housing market over the past 15 years, focusing on the slow response of prices to market changes. It examines how shifts in lending policies contributed to the housing bubble and introduces a dual modeling approach for comprehensively understanding neighborhood-specific sales dynamics.
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