Silicon Valley or Death Valley

Paper Summary:

This paper discusses the nature of the housing market across the US and in particular the warnings of a looming bubble market. The bubble concept is more fully explained in this paper and the authors go on to support their suppositions through quantitative research based on housing prices and median incomes. Additionally, they collect qualitative research in the form of surveys from homeowners/home buyers and relate this data to the market statistics. The final analysis of this paper, is that some aspects of a bubble market exist but that the concept of bubble is more related to perception than reality.

From the Paper:

"The topic that the learning team settled upon as presenting both one of general interest and also of a certain pragmatic interest to students in general is one of housing issues and concerns for students attending the University of Phoenix in Silicon Valley. The title of the article referenced is 'Is There a Bubble in the Housing Market?'. This article was deemed particularly relevant because a housing bubble, in relation to local housing concerns in Silicon Valley, has a direct impact on the affordability, much less the presence, of student housing availability. The authors of this study are both university professors. Robert Shiller is a professor at Yale University and has authored several books regarding the housing industry and related issues, such as Irrational Exuberance among others."

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