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Growing Housing Wealth as the Driving Force of an Economy?

01/10/2010
Rudolf Böhmler

The speculation-driven surges in property prices in a number of countries have not only led to sharp growth in housing wealth but have also given rise to investment on a large scale. This cannot, however, be seen as a sustainable growth model for an economy, as is illustrated by the major adjustments on many international markets in the recent past.

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