In this paper, I study various characteristics of five countries’ bubbles, including those in Australia, Denmark, Ireland, the United Kingdom, and the United States, in order to better understand how these bubbles began and how they subsequently developed. I conclude that these bubble markets are often characterized by a rising home ownership rate, rapidly increasing housing starts, and quickly declining affordability. In addition, I discover that the size of a U.S. city’s bubble can largely be explained by its median multiple, percentage of renters, and coastal location.
Amrine, Brian Scott
"Origins and Characteristics of Recent Residential Real Estate Bubbles,"
Undergraduate Economic Review:
1, Article 7.
Available at: http://digitalcommons.iwu.edu/uer/vol7/iss1/7