Gayrimenkul ve mortgage krizi: Amerika Birleşik Devletleri üzerine bir çalişma

Like every asset price boom, the US Real Estate Boom expanded theeconomy until the burst occurred. Although the existence of an ?irrational? boomwas apparent, it has been questioned whether the increase suggested a bubble. Thisthesis analyzes the evolution of the US Real Estate Crisis and suggests that the realestate price increase was a bubble. A time series analysis is performed for the years1990-2006, using monthly data on the US house prices, consumer prices, income percapita, population, unemployment rate, mortgage rate and housing starts. The resultsindicate that consumer prices and income per capita explain the trend in the housingprices, prior to the bubble. During the bubble, except population the fundamentalsfall short in explaining the housing prices.