¶ … Housing Bubbles Contagious? Like the sudden collapse of publically traded internet technology stocks in the year 2000 which was its predecessor, the speculative real estate bubble that peaked in 2006 and deflated with such sudden and devastating scope was viewed by many as a calamitous, but largely unforeseeable, confluence of catastrophic economic circumstances. Economic theorists and other researchers have begun the arduous process of debunking that self-perpetuating myth, however, by precisely analyzing the complex network of financial, social and political variables which dictate the artificial inflation, and resulting drastic deflation, of residential property prices. Mary Riddel, an associate professor in the University of Nevada, Las Vegas' Department of Economics, recently authored a report examining concept of interconnectedness between neighboring urban centers entitled Are Housing Bubbles Contagious? A Case Study of Las Vegas and Los Angeles Home Prices. Published in the scholarly journal Land Economics, Riddel's...
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