As easy to borrow for housing demand is very high up, which leads to up prices
of real continuity. The average house price rose to 54% in just four years
from 2001 (the year began sharply cutting interest rates) up to 2005. It also led to problems
and dependence speculation that house prices will continue higher. Consequently, people are willing to buy the house
at a high price, regardless of the actual value and the ability to repay later because they think if need be
resold to repay bank loans and still have words. Thus, a bubble has formed
in the real estate market.
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