Chicago Fed on home ownership
The Chicago Fed has published and article explaining recent high levels of residential investment and rates of home ownership.
The article, published on Thursday 24 August, has four main findings: firstly that the housing boom has not been driven by unusually loose monetary policy. Secondly the current levels of spending on housing are largely explained by the wealth created by dramatic technological progress over the previous decade. Third, changes in the demographic, income, educational, and
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