Can Cheap Credit Explain the Housing Boom?

Edward L. Glaeser, Joshua D. Gottlieb, Joseph Gyourko

NBER Working Paper No. 16230
Issued in July 2010

---- Acknowledgments ----

The authors are grateful to Thomas Barrios, Owen Lamont, Carolin Pflueger, Jeremy Stein, Paul Willen and seminar participants at Harvard University, the University of Pennsylvania, and the AREUEA Mid-Year Meetings for valuable discussions, and to Karen Pence and Fernando Ferreira for providing data. Jiashou Feng and Charlie Nathanson provided excellent research assistance. Glaeser and Gottlieb thank the Taubman Center for State and Local Government for financial support. Gottlieb also thanks the Harvard Real Estate Academic Initiative and the Institute for Humane Studies. Gyourko thanks the Research Sponsors Program of the Zell/Lurie Real Estate Center at Wharton. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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