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Homebuyers’ emotions may partly explain soaring home prices during the COVID-19 pandemic but, at least so far, the run-up doesn’t look like a classic bubble, suggests a paper discussed at the Brookings Papers on Economic Activity (BPEA) conference on March 25, 2022. From August 2020 to August 2021, home prices, as measured by the S&P/CoreLogic/Case-Shiller National Home Price Index, increased 20 ...
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