The Regime Shift Associated with the 2004-2008 US Housing Market Bubble.
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ABSTRACT:
SUBMITTER: Tan J
PROVIDER: S-EPMC5008684 | biostudies-literature | 2016
REPOSITORIES: biostudies-literature
Publications
The Regime Shift Associated with the 2004-2008 US Housing Market Bubble.
Tan James J Cheong Siew Ann SA
PloS one 20160901 9
The Subprime Bubble preceding the Subprime Crisis of 2008 was fueled by risky lending practices, manifesting in the form of a large abrupt increase in the proportion of subprime mortgages issued in the US. This event also coincided with critical slowing down signals associated with instability, which served as evidence of a regime shift or phase transition in the US housing market. Here, we show that the US housing market underwent a regime shift between alternate stable states consistent with t ...[more]
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